Is it a management or board failure when no action is taken on audit findings?

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My good friend, Richard Chambers (President and CEO of the IIA), recently wrote about this in C-Suite Owes More Than Simple Awareness of Internal Audit Reports.

He cited several examples where an organization experienced a public failure even though the issue had previously been identified and reported by the internal audit team.

Richard then said:

Each of these instances provides an example of governance meltdowns fed by board and management inaction or indifference to internal audit’s work. Such instances, at best, frustrate practitioners who take seriously their task of providing…

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