PracticeAuditInternal audit key to success for directors

Internal audit key to success for directors

The ICAEW today published new guidance for board and audit committee members, as their responsibilities increase in the wake of the introduction of more stringent governance rules.

Link: New ICAEW vice-president pledges ‘an edge’

The guidance urges directors to make better use of their internal auditors to gather the information they need.

Gill Bolton, chairwoman of the ICAEW working group that produced the guidance, said: ‘The internal audit function has a key role to play here because it can provide a breadth and depth of understanding about an organisation, as well as an independent perspective on company performance, both of which are important means of assurance.

‘Audit committees and company boards need to develop an overall assurance framework identifying aspects of governance, risk and control that they want assurance on and where they wish to obtain this assurance from.’

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

16h Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

6d Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

2w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

1m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter