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Internal Audit: Difference between revisions
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*Periodically provide information on the status and results of the annual audit plan and the sufficiency of activity resources. | *Periodically provide information on the status and results of the annual audit plan and the sufficiency of activity resources. | ||
*Coordinate with other control and monitoring functions (risk management, compliance, security, legal, ethics, environmental, external audit) to conduct risk assessments and develop or recommend monitoring activities to evaluate the adequacy and effectiveness of internal controls. | *Coordinate with other control and monitoring functions (risk management, compliance, security, legal, ethics, environmental, external audit) to conduct risk assessments and develop or recommend monitoring activities to evaluate the adequacy and effectiveness of internal controls. | ||
==Independence == | ==Independence == | ||
To provide for the independence of the internal auditing activity, all internal audit personnel report to the Director, who reports functionally to the audit committee and administratively to the President in a manner outlined in the above section on Accountability. The Director will include as part of the annual report to the audit committee a section on internal audit personnel. <br /> | To provide for the independence of the internal auditing activity, all internal audit personnel report to the Director, who reports functionally to the audit committee and administratively to the President in a manner outlined in the above section on Accountability. The Director will include as part of the annual report to the audit committee a section on internal audit personnel. <br /> | ||