This sample policy establishes reporting relationships for the internal auditors of a company. It applies to the board of directors, the audit committee, the management of the company and the internal auditors.

In this sample, the manager of the internal audit function should not report to the head of the finance and accounting function. Annually, the internal audit manager should present the internal audit plan to the audit committee of the board for review. The audit committee should vary or adjust the audit plan based on its view of priority audit areas. The results of the audits conducted during the year should be provided to the audit committee for review.