Objectives, Roles, and Functions of The Institute of Auditing (TIA)
- To establish an Institute for advancement and raising standards of professional education and training in the fields of Internal Auditing, Risk Management, Governance, and its allied areas and cognate subjects as applied to all or any of the professional services provided by Internal Auditors in general and to provide a platform for members and to facilitate dissemination of information, making available the course materials and holding of examinations and to protect and preserve their professional independence and to exercise professional supervision over them.
- The Institute of Auditing (TIA) has designed a sophisticated and comprehensive system of education, training, and examinations and has laid down specific conditions with regard to the attainment of the prescribed and approved experience of Internal Auditing, Risk Management, Governance, and its related areas work experience acceptable to the Executive Council/Board of Directors of the Institute.
- Strict disciplinary rules for exercising control over the conduct of members on admission and for the students on registration have been laid down to ensure that all those who constitute part of this organization abide by professional ethics and do not commit a breach of discipline. This is very vibrant for every Professional Institute and its members and students alike.
- The Institute Auditing (TIA) role as an educational and training Institution to promote the cause development of professional education and training in Internal Auditing, Risk Management, Governance, and its allied areas, the Institute will play a dynamic role in streamlining the Internal Auditing, Risk Management, Governance, and its allied areas, in Pakistan and regulating the profession of Internal Auditing as far as it is practiced by its members in particular and others in general.
- The Institute of Auditing (TIA) has a very spirited role to play not only in disseminating professional education and training in Internal Auditing, Risk Management, Governance, and its allied areas but also to enforce a code of professional conduct for the Internal Auditing Professionals/Practitioners, Executives and Students and at the same time to meet the demand for Internal Auditing Specialists not only in Pakistan but also in others countries of the world.
- With his multidisciplinary background in Internal Auditing, Risk Management, Governance, and its allied areas, backed by rigorous training and continuing education, a modern corporation needs the services of a qualified Internal Auditor (IA) to ensure that all legal compliances are adequately and promptly met. The rapid corporatization, which began in the wake of the liberalization of the economy, has brought about a sea change in the role and profile of an Internal Auditor (IA).
- The job of an Internal Auditor (IA) now involves diverse responsibilities such as formulating long-term and short-term corporate policies and programs, Internal Auditing, Risk Management, and Governance functions.
- Internal Auditors (IAs) are seen as corporate development planners who explore the expansion opportunities such as arranging various collaborations, amalgamations, acquisitions, and setting up of subsidiaries and joint ventures within and outside Pakistan. Internal Auditors (IAs) have made forays into the capital market and financial services industry. The Internal Auditors (IAs) are also taking care of tax planning and tax management for the company and advising the management on tax concessions, incentives, and reliefs.