Corporate Governance
Internal audit
All internal audit groups deliver a mix of financial reporting, internal controls, and compliance assurance, but there is little uniformity in definitions of the function’s scope beyond that core mission. Approaches vary by company and over time, influenced in turn by the push for Section 404 implementation, the global economic crisis of 2008–9, and the renewed search for growth in emerging markets.
For audit chairs, the evolution of internal audit has been a constant area of focus – and a recurring topic of discussion among Tapestry’s network members. Their discussions focus on audit committees’ changing priorities, concerns, questions, and expectations for internal audit since Sarbanes-Oxley – before, during, and after the financial crisis.
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