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Audit Committee Resource Exchange

The Audit Committee Resource Exchange

Because the audit committee is responsible to the board for oversight of management reporting on internal control, and because the internal auditors play a key role in assessing and reporting on risk management and internal controls, these two entities share a healthy interdependence.

The critical connection between audit committee effectiveness and internal auditing mandates that committee members maintain an in-depth understanding of internal audit best practices and how their internal audit activity is functioning.

The resources on this page provide a wealth of information for internal auditors, audit committees, and boards of directors.


Downloads and Links

Newly Released

High-profile business scandals across the globe in 2015, from alleged corruption within FIFA to Volkswagen’s much reported emission’s scheme, have put a spotlight on how wayward corporate cultures can contribute to tangible negative outcomes. The new issue of Global Perspectives and Insights, Auditing Culture — A Hard Look at the Soft Stuff, makes the case that internal audit can enhance its value to an organization by auditing culture and provides a comprehensive look how it can be accomplished.

This new CBOK report from the Internal Audit Foundation offers direction in a rapidly changing world. Driving Success in a Changing World: 10 Imperatives for Internal Audit, developed from data gleaned from The IIA’s Global Internal Audit Common Body of Knowledge (CBOK) practitioners’ survey, offers direction to help internal audit professionals expand their skills and add value to their organizations.

The 2015 Global Pulse of Internal Audit report, Embracing Opportunities in a Dynamic Environment, analyzes data from more than 4,500 CAEs and directors from around the world to provide a look at the challenges and opportunities present for internal audit in today’s dynamic business environment and identifies four major themes CAEs must have on their radar.

The overwhelming number of cybercrime incidents in recent months has forced boards of directors to ask strategic and thoughtful questions directed toward management and internal audit. The Internal Audit Foundation, in partnership with ISACA, commissioned the research report, Cybersecurity: What the Board of Directors Needs to Ask, to help directors understand their role when a cybersecurity breach occurs.

In Leveraging COSO Across the Three Lines of Defense, authors Douglas J. Anderson and Gina Eubanks make a strong case for using the Three Lines of Defense Model, which addresses how specific duties related to risk and control should be assigned and coordinated.

Helpful Links

Agenda Week Article Focuses on Internal Audit’s Expanding Responsibilities
An article that focuses on internal audit’s evolving scope of work was posted in Agenda Week’s digital edition Feb. 16. The article, which quotes IIA President and CEO Richard Chambers and taps into data gleaned from the 2016 North American Pulse of Internal Audit, offers strong analysis of the changing demands on internal auditors and the value they bring to organizations. The piece’s message is an important one to share with Agenda Week’s readership, which is comprised primarily of key internal audit stakeholders including C-suite executives and board members.

Proposed Internal Audit Standards Changes Unveiled
The IIA announced proposed changes to its International Standards for the Professional Practice of Internal Auditing (Standards), and announced a 90-day exposure period for public comment beginning 1 February. The changes to the Standards are designed to help practitioners meet challenges posed by today’s dynamic business environment and the evolving demands that environment creates on internal audit functions. Practitioners and stakeholders are encouraged to participate worldwide by 30 April. Access the changes.

IIA Response Letter to INTOSAI ISSAI 30 Code of Ethics
The IIA responded to the exposure by INTOSAI of proposed changes to its Code of Ethics (ISSAI 30). The IIA made a number of general comments and a series of more detail observations and suggestions. In general The IIA welcomed the changes which among other things would have the benefit of bringing the codes of the two organizations into closer alignment, making it easier for those working across both internal audit and supreme audit institutions. INTOSAI will take the responses received through this process under consideration in formulating a final version of ISSAI 30.

IIA Introduces Updated Guidance Framework
The IIA has unveiled enhancements to its International Professional Practices Framework (IPPF)®. Among the most significant enhancements to the IPPF are the introduction of a Mission of Internal Audit and articulation of 10 Core Principles for the Professional Practice of Internal Auditing.

Tone at the Top Newsletter
Tone at the Top is a complimentary, bimonthly quick-read newsletter that provides executive management, boards of directors, and audit committees with concise information on establishing the appropriate tone at the top concerning governance-related topics such as ethics, risk management, and corporate culture. Subscribe now.

Think of Internal Audit as the Conscience of the Organization
In the NACD’s November 2013 issue of Directorship, IIA President and CEO Richard Chambers discusses the importance of directors lending their full support to internal audit’s ethics-related evaluation activities.

Value Proposition
Learn how internal auditing provides assurance, insight, and objectivity to audit committees and boards of directors.

More Downloads

Grant Thornton - Competing Priorities
TeamMate – Strengthen Audit Committee Value: a 10-step Approach
NACD - Financial Lines
The Audit Committee: Internal Audit Oversight
This brochure covers implementing best practices and high standards.

The Audit Committee: Purpose, Process, Professionalism

20 Questions Directors Should Ask About Internal Audit
The questions in this briefing are designed to help directors understand the contribution of internal audit and to provide guidance to audit committee members on what to ask their CAEs.


An updated edition of the International Professional Practices Framework (IPPF) guide, more commonly known as the Red Book, is now available. Visit the IIA Bookstore for more information.

Get your free subscription to The IIA's Tone at the Top newsletter.View the latest reports from The IIA's CBOK Resource Exchange.Revised Standards - Effective Jan. 2017The IIA Bookstore