IIA-Australia Factsheet - Internal Audit Report Distribution

IIA-Australia Factsheet - Internal Audit Report Distribution

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Author

IIA-Australia

Date

2023

Topics Explored

Internal Audit

Format

Factsheet

Extract/Description

While there may be conjecture on internal audit report ownership, the owner is the audit committee. Even if an internal audit report was commissioned by an individual manager, all significant issues must be reported to the audit committee. The chief audit executive is obliged to ensure that the report is issued to those who may address the issues.  Other parties may be given access.

Key Points

    1. It is important for internal audit distribution rules to be clearly defined and approved by the audit committee.
    2. Regulatory requirements and other legal obligations may demand access to reports.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate