use the certified internal auditor designation with discretion and in a dignified manner and will maintain high standards of conduct in order to discharge their responsibility effectively. The standards of conduct set forth in the code provide basic principles in the practice o internal auditing. Individual judgement is, however, required in the application of these principles. It represents the cornerstone of the whole code of ethics.
             The term ethical behavior implies more than determining what is right. It implies living it out, and that requires commitment to integrity (Managerial Auditing Journal, Vol. 7, 1992 p.22).
             Article I of the code obligate internal auditors to exercise honesty, objectivity and diligence in all matters concerning the affairs of their organization or to whomever they may be rendering services.
             Honesty ought to be an important trait of internal auditors. A survey on fraud prevention has revealed that
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