Generally Conforms definition

Generally Conforms means the evaluator has concluded that the relevant structures, policies and procedures of the internal audit service, as well as the processes by which they are applied, comply with the requirements of the individual Standard or element of the Code of Ethics in all material respects. For the sections and major categories, this means that there is general conformance to a majority of the individual Standards or elements of the Code of Ethics, and at least partial conformance to the others, within the section/category. There may be significant opportunities for improvement, but these must not represent situations where the service has not implemented the Standards or the Code of Ethics, has not applied them effectively, or has not achieved their stated objectives. As indicated above, general conformance does not require complete / perfect conformance, the ideal situation, successful practice, etc.

Generally Conforms means the assessor has concluded the following:

Generally Conforms means that an internal audit activity has a charter, policies, and

Examples of Generally Conforms in a sentence

• The function has had the privilege of being the first UAE-listed company to successfully pass an External Quality Assessment by the IIA Global with the highest rating of Generally Conforms in the three areas: Attributes Standards, Performance Standards and Code of Ethics.

• The Institute of Internal Auditors assessed the in-house team as fully meeting most of the Standards, as well as the Definition, Core Principles and the Code of Ethics in October 2017 (classified as "Generally Conforms", the highest rating).Good assessments were achieved in relation to:• reflection of the Standards• focus on performance, risk and adding value• the quality assurance and improvement programme.

• Based on our independent validation of the QAR performed by OACS, we agree with OACS’ overall conclusion that the internal audit function "Generally Conforms" with the Institute of Internal Auditors’ International Standards for the Professional Practice of Internal Auditing and Code of Ethics, as well as with OACS’ conclusions regarding GAGAS and TIAA requirements.

• Generally Conforms: The reviewers have concluded that the relevant structures, policies, and procedures of the internal audit function, as well as the processes by which they are applied, comply with the requirements of the individual Standard or element of the Code of Ethics in all material respects.

• The overall opinion was that AUG "Generally Conforms" to the International Standards for the Professional Practice of Internal Auditing (Standards).

More Definitions of Generally Conforms

Generally Conforms is the top rating and means that an IA activity has a charter, policies, and processes that are judged to be in conformance with the Standards. “Partially Conforms” means deficiencies in practice are noted that are judged to deviate from the Standards, but these deficiencies did not preclude IA from performing its responsibilities in an acceptable manner. “Does Not Conform” means deficiencies in practice are judged to be so significant as to seriously impair or preclude the IA activity from performing adequately in all or in significant areas of its responsibilities.

Generally Conforms means that an internal audit activity has a charter, policies, and processes that are judged to be in accordance with the Standards, but some opportunities for improvement may exist.

Generally Conforms means the IA activity has practices that are in accordance with the IIA Standards, although opportunities for enhancement may exist. “Generally Conforms” is the highest ranking possible.

Generally Conforms means that an internal audit activity has a charter, policies, and processes that are judged to be in conformance with the Standards.

Generally Conforms. — the top rating and means that an internal audit activity has a charter, policies, and processes, execution and results of which are judged to be in conformance with the Standards.

Generally Conforms means structures, policies, and procedures, as well as processes applied, comply with the requirements of the IIA Standards, the IIA Code of Ethics, and Generally Accepted Government Auditing Standards.

Generally Conforms means an internal audit activity has a charter, policies, and processes that are judged to be in accordance with the Standards, with some opportunities for improvement.