Readers of my blog know there are a few things I have harped on over the years. One of them is what I consider to be the outdated practice of having internal audit report administratively to the chief financial officer (CFO).
For years, The IIA has conducted research on internal audit reporting relationships. The good news is our surveys have found a consistently high percentage of chief audit executives (CAEs) who say they report functionally to the audit committee. In fact, more than 80% of North American CAEs surveyed for The IIA’s upcoming 2021 North American Pulse of Internal Auditreport say they report functionally to the “audit committee, board, or equivalent.”…