Key Questions for Audit Committees to Ask About Internal Audit |
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An effective relationship between the audit committee and internal auditors is fundamental to the success of the Internal Audit function. It has become increasingly important for audit committees to assess whether internal auditors are monitoring critical controls and identifying and addressing emerging risks. Internal audit will be more successful if the chief audit executive (CAE) understands the expectations of the audit committee and management and if expectations are aligned.
This questionnaire is designed to assist audit committees in their evaluation of Internal Audit and the CAE. By performing a periodic assessment, audit committees can more effectively communicate their expectations of Internal Audit, help align those expectations with other key stakeholders, and support the CAE in assessing the function’s ability to meet expectations.
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Key questions for audit committees to ask about internal audit
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