Internal Audits are normally performed by an audit committee. Who does this audit committee report to?
Internal Audits are normally performed by an audit committee. Who does this audit committee report to?
Homework Answers
Internal auditing departments are led by a Chief Audit Executive ("CAE") who generally reports to the Audit Committee of the Board of Directors, with administrative reporting to the Chief Executive Officer (In the United States this reporting relationship is required by law for publicly traded companies)
So basically the audit committee reports to the board of directors and shareholders
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Internal Audits are normally performed by an audit committee.
Who does this audit committee report to?
What are some specific audits performed by internal audit? Financial, operational or IT audits are specific...
What are some specific audits performed by internal audit? Financial, operational or IT audits are specific enough.
What are some specific audits performed by internal audit? Financial, operational or IT audits are specific...
What are some specific audits performed by internal audit? Financial, operational or IT audits are specific enough.
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What is an audit, and why are audits performed?
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3) Role of internal audit function
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Auditing
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3) Role of internal audit function
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Audits are performed for companies by public accounting firms who are paid by the client; gaining the firm a profit. Within the business community some believe that the profit motive (i.e., audit fees, other allowable non-audit services provided by the audit firm) compromises their ability to be "independent". This is why some propose the audit function should be performed by a government agency instead of public accounting firms. Do you believe that public accounting firms could be influenced by profit...
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