Internal Auditing’s Role in Governing Body/Executive Committees
Whether internal audit participates on an organization’s governing body and executive committees depends largely on what leadership defines as internal audit’s scope of work. For organizations that expand internal audit’s role beyond assurance on financial reporting to include operational and strategic issues, there is a great opportunity for internal audit to add value by participating on various governing body and executive committees. This paper provides examples of where internal audit can add value, offers questions leadership should ask before extending an invitation, and outlines precautions that should be taken while participating to ensure internal audit’s objectivity remains intact.