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Law on Internal Audit in Azarbaijan

It became effective with the decree issued by the President of the Republic on 29 June 2007.

This law defines the legal basis of internal audit services organisations and the rights and obligations of internal auditors to ehance the effectiveness of controls in entities.

To download the English version of the law click here.

 
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Professional Practice
New guidance paper “Managing the Business Risk of Fraud: A Practical Guide” released for comments

The ACFE, AICPA, and IIA have released an exposure draft of a joint project regarding guidance to organizations on establishing an approach to managing the risk of fraud. The paper will be open for comment through December 21, 2007.

 
Practice Advisory on Resource Management revised
coverThe IIA has updated Practice Advisory 2030-1: Resource Management. The update expands the previous Practice Advisory and provides further clarity on resource management.
 
IIA Reseach on Quality Assessment Reviews

logo IIARF

The IIA Research Foundation condected a survey titled Ëxternal Quality Assessment to identify the results, tools, techniques and lessons learned from organizations, which had recently undergone the exerternal Quality Assessment according IIA Standard 1312.

 
IIA Practice Advisories Revised
The IIA has amended four Practice Advisories to provide clarity on developing and maintaining a quality assessment program of internal audit activities.