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CHAPTER 3

Governance

Internal Auditing: Assurance and Consulting Services, 2nd Edition © 2009 by The Institute of Internal Auditors Research Foundation,
247 Maitland Avenue, Altamonte Springs, FL 32701 USA 1
Chapter 3 Learning Objectives

 Define governance and contrast the different roles


and responsibilities within governance.
 Articulate the different enterprise-wide governance
principles.
 Describe the changes in regulations and how
governance has evolved to its present state.
 Describe the role of the internal audit function in the
governance process.
 Know where to find information about governance
codes and regulations from countries around the
world.
Internal Auditing: Assurance and Consulting Services, 2nd Edition. © 2009 by The Institute of Internal Auditors Research Foundation,
247 Maitland Avenue, Altamonte Springs, FL 32701 USA 2
Exhibit 3-1

Internal Auditing: Assurance and Consulting Services, 2nd Edition. © 2009 by The Institute of Internal Auditors Research Foundation,
247 Maitland Avenue, Altamonte Springs, FL 32701 USA 3
Exhibit 3-2

Internal Auditing: Assurance and Consulting Services, 2nd Edition. © 2009 by The Institute of Internal Auditors Research Foundation,
247 Maitland Avenue, Altamonte Springs, FL 32701 USA 4
Exhibit 3-3

Internal Auditing: Assurance and Consulting Services, 2nd Edition. © 2009 by The Institute of Internal Auditors Research Foundation,
247 Maitland Avenue, Altamonte Springs, FL 32701 USA 5
Exhibit 3-4

Internal Auditing: Assurance and Consulting Services, 2nd Edition. © 2009 by The Institute of Internal Auditors Research Foundation,
247 Maitland Avenue, Altamonte Springs, FL 32701 USA 6
Exhibit 3-5

Internal Auditing: Assurance and Consulting Services, 2nd Edition. © 2009 by The Institute of Internal Auditors Research Foundation,
247 Maitland Avenue, Altamonte Springs, FL 32701 USA 7
Exhibit 3-6

Internal Auditing: Assurance and Consulting Services, 2nd Edition. © 2009 by The Institute of Internal Auditors Research Foundation,
247 Maitland Avenue, Altamonte Springs, FL 32701 USA 8
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Internal Auditing: Assurance and Consulting Services, 2nd Edition. © 2009 by The Institute of Internal Auditors Research Foundation,
247 Maitland Avenue, Altamonte Springs, FL 32701 USA 9