What evidence does the audit committee and management receive that shows an internal audit service provider is doing a good job, providing a cost-effective service, and delivering valued outcomes? I

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The 20 Critical Questions Series

What Directors should ask about Internal Audit Service Providers

Author

 IIA-Australia

Date

 Updated 2022

Topics Explored

 Governance, GRC, Internal Audit Structure

Format

 20 Critical Questions

Extract/Description

 What evidence does the audit committee and management receive that shows an internal audit service provider is doing a good job, providing a cost-effective service, and delivering valued outcomes? In the event of any complaints about service providers and what they deliver, does the audit committee challenge the chief audit executive on how the arrangements and performance feedback processes are being managed?

Relevant Industries

 All

Level of Assumed Knowledge

 Expert