Mich. Admin. Code R 567.6 — General professional standards for conducting an examination

Rule 6. Auditors shall adhere to the following general standards:
(a) Auditors shall maintain independence and objectivity in a ll 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 acc epted auditing standards and
follow generally accepted practices with regard to unclaimed property examinations.
(d) Auditors shall possess adequate professional competence n eeded to address the
examination objectives and conduct the examination.
(e) Before commencing the examination, auditors shall collect ively possess the technical
knowledge, skills, and experience necessary to competently conduct the examination.
(f) Auditors shall maintain their professional competence thr ough continued training and
education.
(g) Auditors shall possess a system of quality control to pro vide reasonable assurance that
its personnel comply with profe ssional standards and applicable legal and regulatory
requirements.