Global Perspectives & Insights
Internal Audit and Compliance: Clarity and collaboration for stronger governance
The relationship between internal audit and compliance is sometimes unclear, giving rise to important questions: Can internal audit have responsibility for compliance? Is a compliance function responsible for all compliance across an organization? As a chief audit executive, is it OK to be in charge of compliance?
This paper is designed to help bring clarity to these complexities and avoid confusion, gaps, and unnecessary duplication. Clear understanding is essential, collaboration is strongly encouraged, and the independence of internal audit is fundamentally important.