Dear Sean,
I am attached to a mutual fund company. Our Audit Charter clearly specifies that functionally, the Internal Audit reports to the Audit Committee but administratively to the Chief Executive Officer.
Hope the above statements help.
-----Original Message-----
From: Sean Popock [mailto:[EMAIL PROTECTED]]
Sent: Thursday, October 10, 2002 3:35 AM
To: [EMAIL PROTECTED]
Subject: Internal Audit Reporting Lines
Audit-l is sponsored by Audit Leverage (IAD Solutions, Inc.) www.auditleverage.com
***************************************
I believe this question was raised once before, but unfortunately I do not remember the responses. In general, to which area do internal audit departments report? Of course I realize that most, if not all, report directly to the audit committee (if one exists), but on a day-to-day basis, to whom does the head of internal audit report, for both functional and admininstrative matters?
Since we are a financial services company, I'd be particularly interested in the reporting structure of other financial services firms, but all responses would be welcome.
Much thanks,
Sean Popock
IT Audit Manager
Instinet Corporation
__________________________________________________
Do you Yahoo!?
Faith Hill - Exclusive Performances, Videos & More http://faith.yahoo.com Audit Leverage is a department management software package that integrates and automates the entire audit process. This comprehensive package includes risk assessment, audit planning, budgeting, staffing, scheduling, timekeeping, automated work papers, audit findings & recommendations, reporting and audit follow-up. Audit Leverage allows auditors in the field to work off-line and dial in to synchronize their work with the Audit Leverage database on the network, enabling managers to review the work papers instantly without being at the job site.
Demo available at www.auditleverage.com
If your organization would like to sponsor this discussion list send an e-mail to [EMAIL PROTECTED] for information.
To unsubscribe to the Audit-l list send an e-mail to [EMAIL PROTECTED] Leave the subject line blank and include the following message in the body:
Unsubscribe audit-l (yourname)
Thanks,
Jim Kaplan
List Manager
