For the first time, standards for the IA profession will include direction and responsibilities for the board. Domain III outlines several standards for the board that:

• Authorize the IA function.
• Ensure and safeguard its independence and positioning within the organization.
• Establishes the board’s responsibilities for overseeing the quality of the performance of both IA and the chief audit executive.

This is segment two of Governing The Internal Audit Function in Line with GIAS. Within this segment we focus on Principle 8 – Overseen by the board. We will delve past the Standard requirements and examine the “how” and “what if’s” of the requirements. CAE’s and internal auditors may find that there are a multitude of concepts within this Domain that their organization’s will not or cannot accept. We will discuss the concepts and evaluate the options that internal audit has in order to best comply with the elements in Domain III.