11-13-2003, 05:25 PM
Well, a couple of things regarding internal audit
CCG specifies that CFO and Company Secretary should be members of any professional accounting body blah blah blah, but it is silent for the Head of Internal Audit (there goes the professionalism)
Then, as indicated, CFO and CS cannot be removed without approval of the Board, but its not the case with Head of Internal Audit (so, IA prepares a good report against some management deeds and he is whacked away the instantâ¦â¦.so much for independence)
Thirdly, there are many ambiguities left in internal auditorsâ role, reporting framework etc.
CCG specifies that CFO and Company Secretary should be members of any professional accounting body blah blah blah, but it is silent for the Head of Internal Audit (there goes the professionalism)
Then, as indicated, CFO and CS cannot be removed without approval of the Board, but its not the case with Head of Internal Audit (so, IA prepares a good report against some management deeds and he is whacked away the instantâ¦â¦.so much for independence)
Thirdly, there are many ambiguities left in internal auditorsâ role, reporting framework etc.
