Audit committee chairs and CAEs must have a clear understanding of expectations for internal audit. The foundation of the working relationship between internal audit and the audit committee is direct communication, and it is important to decide up front the ground rules for periodic reporting — how much, how often, in what form, etc. But when it comes to improving internal audit performance, the things that audit committee chairs hesitate to say are often the things that audit executives most need to hear.

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October 2018 Tone at the Top