Organizational governance is a broad concept that ensures superior strategy formulation, development, and execution in ways that balance performance, conformance, and accountability. It includes systems, controls, and associated processes that promote ethics and values, performance and accountability, and risk communication and coordination among the board, external and internal auditors, and management in meeting and exceeding stakeholder expectations. Internal audit’s role in organizational governance has always been recognized and valued, but it has become increasingly important in the wake of governance failures in financial and public sectors throughout the world. As a result, more and more boards as well as executive management are turning to internal audit for assurance on governance effectiveness, culture, and strategy implementation.
Copyright © 2017, Institute of Internal Auditors
Institute of Internal Auditors
Ramamoorti, Sridhar; Siegfried, Alan N.; and White, P. Alan, "Auditing Organizational Governance: Internal Audit Has An Integral Role to Play in Improving the Organization's Strategic Performance" (2017). Accounting Faculty Publications. 95.
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