for Audit Committees

For Audit Committees Performed by professionals with an in-depth understanding of the business culture, systems, and processes, the internal Audit activity provides assurance that internal controls in place are sufficient to mitigate the risks, that the governance processes are adequate, and that organizational goals and objectives are met. The Audit committee and the internal auditors are interdependent and should be mutually accessible, with the internal auditors providing objective opinions, information, support, and education to the Audit committee; and the Audit committee providing validation and oversight to the internal auditors.

+ The competency and performance of IA leadership and team as well as the effectiveness in carrying out their professional responsibilities. The IIA’s Internal Audit Competency Framework can be a key resource in this consideration. + If IA uses benchmarking to evaluate whether it is making the best use of its resources or if

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  Competency, Framework, Audit, Audit competency framework

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