This sample policy establishes reporting relationships for the internal auditors of a company. It applies to the board of directors, the audit committee, the management of the company and the internal auditors.
In this sample, the manager of the internal audit function shall not report to the head of the finance and accounting function. Annually, the internal audit manager shall present the internal audit plan to the audit committee of the board for review. The audit committee shall vary or adjust the audit plan based on its view of priority audit areas. The results of the audits conducted during the year shall be provided to the audit committee for review.
Setting the 2020 Audit Committee Agenda
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Assessment Questions for Audit Committees to Consider