Our Audit Code of Practice

Introduction

The primary role of external auditors is to report on the MAOS Approvals Exposition statements and to carry out whatever examination of these statements and underlying records and control systems as necessary to reach an opinion on the statements for initial and ongoing MAOS Approval.

Audit clients need to understand that they are not the direct client of the external auditor and that the auditor does not have a primary duty of care to them. Audit clients agree to a full restriction in the auditors' liability arising from any default by the auditors. However, we expect that audit clients will be able to rely on our code of practice.

Our appointment as MAOS Auditors is made by The Military Airworthiness Authority who is responsible for appointing the external auditor. Our Letter of Engagement details the duties of your external audit service which will be clearly presented in the agreed terms of reference.

Our Approach

Our auditors will carry out their work efficiently, effectively and economically and in as timely way as possible. In framing an audit approach to meet the objectives of the audit they will plan and perform the audit on the basis of their assessment of audit risks, determining where to direct their work, allocate their resources to ensure the audit is tailored to the circumstances. They will obtain such information and explanations that they consider necessary to provide sufficient evidence to meet their responsibilities. Auditors are not expected to review or perform detailed tests of all systems, processes, procedures or transactions, however they must be satisfied that the organisation is in compliance with the relevant sections of Defence Standard 05-130. Our auditors will have regard to the principle that each part of the audit needs to be viewed in the context of the whole or integrated audit.

Our Objectivity

Our auditors will ensure that the MAA is appropriately informed on a timely basis of all significant facts and matters that bear upon the auditors' objectivity and independence. In particular our auditors will avoid the following:

Official, professional and personal relationships which might cause the auditor to limit the extent or character of the audit.

Any responsibility for the executive management of audit clients.

Any interest, financial or non-financial in the audit.