09-12-2004, 03:14 AM
Enlightening replies,
I think it undermines the independence and the objectivity of the Auidt function to report to an MD, Chief Executive or the Chairman; Perhaps the Chairman as he/she may not be involved in direct running of the Company. The most ideally and functionally correct reporting line would be perhaps to the non executive directors or/and to a An Audit committee of the BOD.
How do regulations in the UK address that,.. I think in Pakistan you are encouraged to have a direct reporting line to the BOD.
But ofcourse IA is one of the fastest and emerging offshoots of the assurance industry and is not bound by an international frame work,.. it may take some time to come to a common set of standards world wide
"Allah does not change the state of people unless they change what is within themselves" Quran 1311
I think it undermines the independence and the objectivity of the Auidt function to report to an MD, Chief Executive or the Chairman; Perhaps the Chairman as he/she may not be involved in direct running of the Company. The most ideally and functionally correct reporting line would be perhaps to the non executive directors or/and to a An Audit committee of the BOD.
How do regulations in the UK address that,.. I think in Pakistan you are encouraged to have a direct reporting line to the BOD.
But ofcourse IA is one of the fastest and emerging offshoots of the assurance industry and is not bound by an international frame work,.. it may take some time to come to a common set of standards world wide
"Allah does not change the state of people unless they change what is within themselves" Quran 1311
