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 NFRA issues Draft Procedure for Submission of Audit Files
 Auditors barred from putting a value on companies they are auditing
 Standard on Internal Audit (SIA) 18, Related Parties
 Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
 Standard on Internal Audit (SIA) 16, Using the Work of an Expert
 Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
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 Standard on Internal Audit (SIA) 11, Consideration of Fraud in an Internal Audit
  Standard on Internal Audit (SIA) 9, Communication with Management
  Standard on Internal Audit (SIA) 8, Terms of Internal Audit Engagement

Air India clears audit
January, 22nd 2010

India's international carrier Air India has successfully cleared the IOSA (IATA Operational Safety Audit) audits for 2009.  The combined NACIL has successfully completed the audit and received confirmation of audit closure from the auditing company, AQS, which is based in Germany, an Air India spokesperson said on Thursday.

NACIL-A (erstwhile Air India) has cleared its fourth IOSA Audit showing its compliance with the IATA operational safety and quality standards. NACIL-I (erstwhile Indian Airlines) has cleared its second IOSA Audit. IOSA had new standards in place, with various additional requirements to be met as per the new standards, effective July 2009. 

IOSA is an internationally recognised and accepted evaluation system designed to assess the operational management and control systems of an airline.  The integrated Quality Management System (QMS) of Air India has worked with all the functional areas in the airline to ensure compliance with the latest regulatory and international safety standards. Air India was the first airline in India to obtain IOSA registry and one of the first in the world, in the year 2003.

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