A view from the audit committee
Audit committee chairs give their views on the role and value of internal audit and what they expect from the head of internal audit
The relationship between the audit committee and the head of internal audit has never been so important. Audit committees are expected to know what risks they face and how they are to be managed, and they are increasingly turning to their heads of internal audit for help.
The Institute recognised the importance of this relationship several years ago and established periodic briefings for audit committee members.
There have been many useful surveys exploring the changed role of the audit committee chair. However, the Institute is interested in how best practice actually works in some of the UK’s leading organisations. It is sometimes helpful to know why people are building the sorts of relationships they find useful and how they expect to benefit from them. It is difficult to survey on these more complex issues.
That is why we spoke to some of Britain’s highest profile audit committee chairs, John Buchannan, Bill Griffiths, Ian Harley and Sir Ian Prosser – all of whom sit as chair on multiple blue chip or government audit committees. We thank them for their time in taking part in interviews that were first published in our magazine, Internal Audit and Business Risk, and that are distilled into the attached publication.
A view from the audit committee
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