Section R. 567.6 - General professional standards for conducting an examinationRule 6. Auditors shall adhere to the following general standards:
(a) Auditors shall maintain independence and objectivity in all matters relating to the examination and shall not engage in any activity that gives the appearance of a conflict of interest.(b) Auditors shall use professional judgment in planning and performing examinations.(c) Auditors shall adhere to, where applicable, generally accepted auditing standards and follow generally accepted practices with regard to unclaimed property examinations.(d) Auditors shall possess adequate professional competence needed to address the examination objectives and conduct the examination.(e) Before commencing the examination, auditors shall collectively possess the technical knowledge, skills, and experience necessary to competently conduct the examination.(f) Auditors shall maintain their professional competence through continued training and education.(g) Auditors shall possess a system of quality control to provide reasonable assurance that its personnel comply with professional standards and applicable legal and regulatory requirements.Mich. Admin. Code R. 567.6
2017 MR 5, Eff. 3/21/2017