The Internal Audit
Foundation Releases a New Book That Explores the Symbiotic Relationship Between
Internal Audit and the Audit Committee
Powering Audit Committee Outcomes, available in the IIA Bookstore, is the Foundation’s version of “Best Outcomes Are Based on Better Input.” Written by seasoned practitioner Bruce R. Turner, AM, CRMA, CISA, CFE, it will give internal audit leaders the eyes and ears of the audit board.
This new book showcases audit committee leading practices and shares contemporary examples that can immediately be understood and applied. Each page provides audit committees (and incidentally those who support them) with today’s best practices to enhance and protect organizational value through effective processes. Powering Audit Committee Outcomes explores the symbiotic relationship between internal audit and the audit committee. Each derives its strength from the other. The role and responsibilities of audit committees, and the techniques for running effective audit committees, continue to evolve.
- Maintaining effective communication with the board (or governing body) throughout the year.
- Overseeing an annual internal review of the performance of the internal audit and external audit functions.
- Coordinating a self-assessment of the performance of the audit committee on an annual basis.
- Preparing and delivering an annual report to the board on the audit committee’s operation and activities during the year, including:
- An overall assessment of the organization’s risk, control, and compliance frameworks, encompassing any significant emerging risks or legislative or regulatory changes.
- A summary of the organization’s progress in addressing the findings and recommendations made in internal audit and external audit reports.
- Details of meetings, including the number of meetings held during the relevant period and the number of meetings each member attended.
- A summary of the work the Committee performed to fully discharge its responsibilities.
While the challenges for audit committees are increasing, the guidance for them has not kept pace. This book is structured into chapters tailored specifically for audit committees for today and the foreseeable future.
Visit the IIA Bookstore, powered by the Internal Audit Foundation, to purchase this new release. Members save 20%.