The following link is worthwhile reading from Richard Chambers, President and CEO of the Institute of Internal Auditors. I have long thought that not enough is written about internal audit, COSO 2013, and the interactions and communications between internal audit and the audit committee, including how they can help each other. Similarly, although every organization, audit committee, chief audit executive, and internal audit department is different, in general I have believed that some audit committees definitely should make better use of internal audit, make more demands upon them, and have higher expectations from them, and some CAEs and internal audit departments need to improve their game. In any event, the following is a link to an October 3, 2016, discussion by Mr. Chambers about internal audit for new audit committee members, but I believe it is also worthwhile for more experienced committee members. CLICK HERE
Best, Dave Tate, Esq., San Francisco and California
A blog discussing the law, D&O, governance, liability and other aspects of public and private businesses, not for profit organizations, and governmental entities – see additional detail below - note: sometimes I post information just to pass it along on these topics (not an endorsement), and sometimes I provide only brief comments or no comments, not a more full discussion. 