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The management of the organization should establish an internal audit function which should
be independent of the activities that they audit as the internal audit work should be done with
objectivity, proficiency and due professional care. The audit committee performs the following
roles regarding the internal audit function;
• Review of the scope, functions and resources of the internal audit function and ensures that
it has the necessary resources and authority to carry out the work.
• Review the internal audit function work programme and the internal audit report and where
necessary ensure that appropriate action is taken on recommendations made.
• Review any appraisal or assessment of the performance of the members of the internal
audit function.
• Approve any appointment or termination of senior staff members of the internal audit
function.
• Ensure that the internal audit function is independent of the activities of the company and it
operates with objectivity, skill and due care.
• Determine effectiveness of the internal audit function and undertake all steps possible to
promote its independence.
Wilfykil answered the question on April 11, 2019 at 09:45
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