How effective is your board (or governing body)?
One way that practitioners can both add immense value and reduce the risk of ineffective governance processes is by helping the board (or governing body) perform a self-assessment.
A risk-based approach to auditing governance processes
Should internal audit departments audit governance processes? Can they effectively assess board operations? Isn’t that the responsibility of the board itself, generally through a governance committee? Are we sufficiently independent, because we report to the audit committee of the board, and do we have the necessary skills?
