Read Richard Chambers' Latest Blog
When Boards Are Absent on CAE Pay, Reporting Relationships Are Window Dressing
In his blog, IIA President and CEO Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession. Here's an excerpt from his latest post:
I noted in an earlier blog that many boards are not involved in the hiring and firing process, which can lead to management having a hand-picked – and potentially malleable – CAE running the audit function. The same holds true for boards and audit committees that abdicate their responsibility regarding CAE performance and compensation.
Data from the 2015 Common Body of Knowledge (CBOK) Global Practitioners Survey shows that while more than 70 percent of respondents report having separate administrative and functional reporting lines, in less than half the cases are boards or audit committees responsible for the CAE's performance evaluation.
Read the full InternalAuditor.org blog post from IIA President and CEO Richard Chambers.