There’s an interesting new post, an article in the IIA’s Internal Auditor, Working in Concert: CAEs weigh in on the types of questions audit committees could ask them to strike the right tone.
Several CAEs were surveyed by the magazine “to find out which key questions they wish their audit committees would have asked them, but never — or rarely — did.”
They identified seven questions:
1. What can the audit committee do for you?
2. Is the audit plan the right one, and can it be delivered?
3. Does internal audit have the necessary resources and skills to provide the required level of assurance?
4. How responsive is management in dealing with the risks that internal audit and other assurance providers flag to them?
5. What is internal audit’s view of external audit and other assurance functions?
6. How can internal audit add value? What is your vision for the future?
7. Would you like to have a coffee off-site?
These should all stimulate some reflection, not only by the audit committee but also by internal audit leaders. Here are my thoughts. Please read the article in full so you can see what I am essentially replying to.
1. What can the audit committee do for you?
My audit committee…
