1. The chief audit executive has a range of responsibilities under the GIAS. Internal audit reporting is important as it helps to demonstrate how these have been met, particularly when it comes to management of the internal audit budget and deployment of resources.
2. Given the chief audit executive is the primary Line 3 assurance resource, and often the only independent assurance activity, there should be robust internal audit reporting for these types of documents:
-Internal audit engagement
-Internal audit quarterly reports
-Internal audit annual reports.
3. Examples of what is contained within each type of report is provided.