Roles and Responsibilities of Governance

The IIA’s Roles and Responsibilities of Governance document reinforces the critical role the internal audit functions plays within an organization’s governance model. It is designed to ensure that boards and audit committees understand that internal audit provides independent and objective assurance, which is essential for effective oversight, risk management, and informed strategic decision-making.

 

By aligning with the globally recognized Three Lines Model, the document emphasizes that internal audit is uniquely positioned to deliver reliable insights and foresight, enabling governing bodies to strengthen accountability, improve oversight, and reduce risk before issues arise. It also underscores that the success of the internal audit function depends on strong support from both the board and senior management, ensuring the function remains properly resourced, independent, and competent.