China Internal Audit Regulations and China Internal Audit Standards

Author: China Institute of Internal Auditors
Publisher:
Publish Date: 2004-05-01
Features: The China Institute of Internal Auditors places great emphasis on the standardized development of internal auditing. From 2000 to April 2003, the institute organized experts, professors, practitioners, and legal professionals from internal audit associations in some provinces and cities, internal audit institutions in departments, enterprises, and public institutions, as well as universities, to draft the Internal Audit Standards. The Basic Standards of Internal Audit serve as the general framework for the Internal Audit Standards system, while the Specific Standards refine the Basic Standards. The Practical Guidelines are actionable guidance documents formulated based on the Basic and Specific Standards. The Internal Audit Standards are authoritative standards for regulating internal audit work and an important measure for evaluating the quality of audit services. Establishing and improving the Internal Audit Standards system helps internal auditors exercise their powers legally and carry out audit work in accordance with unified norms. To assist internal auditors in deeply understanding and implementing the Internal Audit Standards, the China Institute of Internal Auditors organized experts and scholars who participated in the drafting and review of the Internal Audit Standards to write the Interpretation of the Internal Audit Standards, providing a theoretical explanation of the standards.