United, Connected and Aligned: How the Distinct Roles of Internal Audit and the Finance Function Drive Good Governance

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Sep 20, 2018

On September 20, 2018, the International Federation of Accountants (IFAC) and the Institute of Internal Auditors (IIA) released a publication that compiles insights from 11 governance experts to examine how the complementary roles of internal audit and the finance function drive sound governance.

Effective governance involves many individuals throughout an organization, including internal audit and the finance function. 

Interviewees identified several key requirements for effective governance, including:

  • An ethical corporate culture that empowers effective leaders throughout the organization to carry out good governance processes;
  • Effective communications and collaboration among the various roles; and
  • Requisite competencies for internal audit and the finance function to earn stakeholder support and respect.

Review the publication on the IFAC's website.

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