Filling the Void

December 2010
Internal Auditor;Dec2010, Vol. 67 Issue 6, p29
Academic Journal
The author analyzes whether a chief audit executive (CAE) should still report functionally to the chair of the audit committee and administratively to a top company executive. He says that the global financial crisis brought to light the failure of risk management to anticipate such debacle. According to internal audit professor Andrew Chambers, the CAE should report functionally and administratively to the board's lead independent director and that the internal audit budget should be part of the board's budget.


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