Governance Principles
This principle promotes honest, timely disclosure to stakeholders
What is transparency?
This committee oversees financial reporting, internal controls, and audit activities.
What is the audit committee?
This animal can't look up at the sky.
What is a pig?
This function provides independent assurance on risk management and controls.
What is internal auditing?
This principle ensures actions have consequences and responsibilities are clear.
What is accountability?
Ongoing training for directors supports this improvement initiative.
What is continuous education?
This bird can’t fly but can run like it’s late for a team meeting.
What is an ostrich?
This is the highest authority internal audit typically reports to functionally.
What is the board (or audit committee)?
This principle calls for equal treatment of all stakeholders.
What is fairness?
This helps maintain leadership continuity and institutional knowledge.
What is succession planning?
This profession is known for having all the answers... after the test.
What is a professor?
Internal audit must be independent and free from this kind of influence.
What is undue influence (or bias)?