umstances (The Internal Auditor, May/June 1969 p.43).
             The Institute of Internal Auditors has developed ethical standards for the practice of internal auditors. The ethics provisions primarily address internal auditors' obligations to their employers, but they also include provisions which prescribe honesty, objectivity, competence and morality in the practice of the internal auditing profession. The IIA promulgated a code of ethics primarily to reflect the particular needs of Certified Internal Auditors (CIA's) and its members in dealing with ethical issues in the performance of their operational audits and in communicating the results to the audit committee and management (Internal Auditor, February 1991 p.12).
             The Certified internal auditor has a professional obligation to management, stockholders and the general public to maintain high standards of conduct. In recognition of these obligations, the Board of Directors of the Institute of Internal Auditors has adopted the IIA Code of Ethics. The IIA has emphasized high standards of conduct from internal auditors through the code of ethics, and the Standards for Professional Practice of Internal Auditing (SPPIA), (Statement on Auditing Standards, 1973 p.8). On December 13, 1968, the IIA adopted two codes of ethics: one for members and the other for the certified internal auditors. In 1988 the two codes of ethics were amended and unified. Developing the new code represents a positive response by the profession to the rapidly changing environment of internal auditing.
             The new code applies to all CIA's and IIA members. The Code consists of purpose and applicability sections and 11 standards of conduct. It reflects the acceptance by the IIA members and CIA's of responsibility to the interest of those they serve.
             The code serves as the framework for evaluating the internal auditor's conduct. A significant provision of the code is that CIA's will...