Internal Audit: Essential Questions for Board Directors in their Oversight Role

In today's rapidly evolving business landscape, the internal audit (IA) function's role has become more valuable in helping organizations create and sustain long-term shareholder value. IA provides objective assurance, advice, insight, and foresight leveraging a risk-based approach. Board oversight and support of the internal audit function is essential to its effectiveness. Listing standards and more recently, the update Global Internal Audit Standards™ issued by The Institute of Internal Auditors (IIA) provide a principles-based framework for the board to oversee the IA function and its performance.  

Below are some essential questions that boards of directors should consider in their oversight of the IA function.

Read More