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The internal auditor should not report to management/ CEO since it will jeopardize the independence of internal auditors had there been any fraud committed by such officials.
Hence, internal auditors must report only to the independent Audit Committee of the Board of Directors since in most cases frauds committed by CFO’s also include collusion with the CEO – WorldCom, Enron, Crazy Eddie, etc.
An Internal Auditor must report to both the Management and CEO.
They should report functionally to the chair of the audit committee and administratively to a top executive, such as the chief financial officer (CFO).
both of them. when the financial period closing time should be inform the status of finanal accounting and how can effort in future requirment etc to managment. CEO will be take care financial information for current way should be need the support of interanl auditor observations.
