In today’s political and business environment, there is increasing focus on governance, risk management, and control. Strong governance systems are necessary to ensure organizations in the private sector to meet their objectives and satisfy stakeholder expectations. Stakeholders expect boards and management to accept responsibility for implementing appropriate governance practices, putting them in the spotlight when it comes to the issue. In fulfilling its oversight responsibilities, the board looks to the internal audit function to provide assessments on the organization’s governance practices.
This practice guide provides the Chief Audit Executive (CAE) with direction on how to assess and make appropriate recommendations for improving governance processes.