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Position papers

Explore the position papers below and get to know our stance on pertinent topics and subject areas of relevance to the profession.

The role of internal audit

The Three Lines of Defence

Position paper outlining internal audit’s role in assuring the effective management of risk and the importance of its position in the corporate governance structure.

Independence and objectivity

Internal audit must be independent of the activities it is auditing, and its functional accountability must be to the board. This paper sets out our position.

The functional relationship between AC chairs and CAEs

Our position on the functional relationship between audit committee chairs and chief audit executives

Internal audit's relationship with external audit

Our position on internal audit's relationship with external audit.

Internal audit and corrupt practices

Internal audit has an important role to play in ensuring that management has effective systems in place to detect and prevent corrupt practices. 

Risk management and internal audit

As the third line of defence, internal audit is able to give independent and objective assurance to the board on the effectiveness of the risk management activities of the first two lines of defence.

Audit and Assurance Policy (AAP)
Our stance on the proposal for companies to have an Audit and Assurance Policy (AAP).

Corporate governance

The rotation of heads of audit

Our position on the appointment and tenure of heads of internal audit.

UK Corporate Governance Code 2024 - what does it mean for internal audit?

Our position on the revised UK Corporate Governance Code and what it could mean for internal audit.


Internal audit and whistleblowing

Responsibility for internal whistleblowing procedures lies with the executive, reporting to the board. But given the potential conflicts of interest, the executive will need to devolve the day-to-day running of the process. Internal audit's independence and objectivity give it the potential to be involved in whistleblowing arrangements.

Audit reforms

Strengthened internal controls

Read our position on strengthened internal controls, with learnings from Sarbanes-Oxley.

Audit regulator reforms

A call for reform as part of our response to the Independent Review of the Financial Reporting Council led by Sir John Kingman.

Corporate auditing

Our stance on why careful thought and consideration should be given​ to establishing a corporate auditing profession.

Government response to Audit White Paper 

Read our position on the Government’s response to the Audit White Paper consultation.