[Answer] Ideally the head of internal auditing (chief audit executive) should report functionally to the ___ ___ and administratively to ____ ____.

Answer: prior year’s
Ideally the head of internal auditing (chief audit executive) should report functionally to the ___ ___ and administratively to ____ ____.
The chief audit executive (CAE) director of audit director of internal audit auditor general or controller general is a high-level independent corporate executive with overall responsibility for internal audit. Publicly traded corporations typically have an internal audit department led by a chief audit executive (“CAE”) who reports functionally to the audit committee of the board of directors with admiā€¦
The chief audit executive (CAE) director of audit director of internal audit auditor general or controller general is a high-level independent corporate executive with overall responsibility for internal audit. Publicly traded corporations typically have an internal audit department led by a chief audit executive (“CAE”) who reports functionally to the audit committee of the board of directors with administrative reporting to the chief executive officer. The profession is unregulated though there are a number of international standard setting bodies an example of which is the Institute of Internal Auditors (“IIA”). The IIA has established Standards for the Professional Practice of Internal Auditing and has over 150 000 members representing 165 countries including approximately 65 000 Certified Internal Auditors. The CAE is intrinsically an independent function; otherwise it may become dysfunctional and of low quality (but there are many degrees in the level of independence and efficiency). The CAE function exists only to constitute a third-level of control in the organisation which must be independent from the first-level control (the first-level layer belongs to…

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