"Internal Audit Specific Standards No. 9 - Internal Audit Supervision"

Inner audit supervision plays an important role in helping an organization to meet the internal control requirements. For an organization to comply with the internal control regulations, it is essential to ensure the continuous supervision of the internal audit activities and ensure that they are conducted fairly and objectively. This paper will discuss the specific criteria for Internal Audit Supervision as provided in the Inner Audit Specific Criterion No. 9.

Inner Audit Specific Criterion No. 9 defines the scope, roles, and responsibilities for the Internal Audit Supervision role. The scope includes the systematic assessment of the performance of the internal audit program, the purpose of establishing clear expectations for internal auditors, and the independence of the internal audit supervisor. In addition, the internal audit supervisor is responsible for making sure that the internal audit objectives, scope, and expend are consistent with the organizations risk profile, and that the internal audit activities are conducted in compliance with the applicable laws and regulations.

The Internal Audit Supervision role is also responsible for reviewing and assessing the quality of the internal audit function, including the performance of the internal auditors, the methods and procedures used for conducting internal audits, and the accuracy and reliability of the internal audit reports. In addition, the Internal Audit Supervisor will review and evaluate the results of the internal audit activities and take corrective action, as necessary.

In order to effectively fulfill the Internal Audit Supervision role, the Internal Audit Supervisor must have a thorough understanding of the organizations policies and procedures related to internal controls, as well as the internal audit function. In addition, the Internal Audit Supervisor must possess the technical expertise to effectively evaluate the organizations internal controls and the performance of internal audit functions.

In order to ensure that the Internal Audit Supervision role is performed in a competent and thorough manner, the Internal Audit Supervisor must engage appropriate personnel who have experience performing internal control and internal audit functions, and possess the technical expertise to effectively evaluate the organizations internal controls and the performance of the internal audit functions.

In addition, the Internal Audit Supervisor must ensure that the internal audit process is conducted in a timely manner, and provide feedback to the organization in a timely and thorough manner. The Internal Audit Supervisor must also ensure that the internal audit activities are conducted in accordance with the approved standards, procedures, and methods.

The main responsibilities of the Internal Audit Supervisor include:

 Establishing the goals and objectives for the audit program;

 Assessing the performance of the internal audit program and internal controls;

 Making sure that the internal audit objectives, scope, and spend are consistent with the organizations risk profile, and that the internal audit activities are conducted in compliance with the applicable laws and regulations;

 Reviewing and assessing the quality of the internal audit function, including the performance of the internal auditors and the accuracy and reliability of the internal audit reports;

 Ensuring that internal audit activities are conducted in a timely manner and providing feedback to the organization in a timely and thorough manner;

 Ensuring that the internal audit activities are conducted in accordance with the approved standards, procedures, and methods;

 Ensuring that the internal audit process is monitored and appropriate corrective actions are taken;

 Working closely with the organizations executive management in developing and providing guidance to the auditors.

The Internal Audit Supervision role is important in helping to ensure the quality and accuracy of the internal audit process, as well as to ensure that the organization is in compliance with applicable laws and regulations. The Internal Audit Supervisor should be knowledgeable about the organizations policies and procedures related to internal audit and internal control, have experience performing internal audit and internal control functions, and possess the technical expertise to evaluate the organizations internal controls and the performance of internal audit functions. It is essential that the Internal Audit Supervisor works closely with the organizations executive management in developing and providing guidance to the auditors.

Internal Audit Supervision Rule No. 9

Internal audit supervision is an important part of the corporate internal control system and is the basis for ensuring the effectiveness of internal audit activities. Internal audit supervision emphasizes the effectiveness of internal audit, including the timely performance of internal audit tasks, the accuracy and integrity of audit conclusions and opinions, and the reasonable use of resources to achieve audit objectives.

The purpose of this Internal Audit Supervision Rule No. 9 is to ensure that the corporate internal audit system complies with statutory and legal requirements, and meets the requirements of the emerging internal audit function. According to the relevant requirements of the Regulations on Corporate Internal Control, the internal audit supervision of this rule includes:

First, establish an effective internal audit reporting system. Corporate internal auditors shall report the audit results to the Internal Audit Supervisory Committee on a periodic basis. The Internal Audit Supervisory Committee shall, after hearing the audit report, make a decision.

Second, strengthen the establishment of internal audit standard systems. Corporate internal audit should establish audit standards, develop audit cycle plans and methods, and make reasonable use of resources to ensure the efficient and effective accomplishment of audit tasks.

Third, strengthen the supervision of the quality of internal audit work. The Internal Audit Supervisory Committee shall conduct periodic evaluations of the quality of internal audit work and take relevant measures to improve if necessary.

Fourth, regularly carry out formal supervision visits to review the status of internal audit activities. The Internal Audit Supervisory Committee shall carry out compliance supervision of internal audit activities on a regular basis.

Fifth, strengthen the supervision of internal audit conclusion and opinion review. The Internal Audit Supervisory Committee shall review the correctness, impartiality and objectivity of the internal audit conclusions and opinions.

Internal audit supervision is an important part of the corporate internal control system, which is a fundamental guarantee for ensuring the efficacy of internal audit activities and safeguarding the interests of enterprises. Therefore, it is imperative that all companies strictly fulfill the internal audit supervision responsibilities and ensure the implementation of the Internal Audit Supervision Rule No. 9.