When two professions with a similar goal clash over their respective obligations, the results can be politically messy, or even downright ugly—especially when in-house counsel and internal auditors find themselves in conflict. A recent survey of 500 chief audit executives in the U.S. reveals that political pressure on a company’s internal auditors to modify or even omit their findings is more common than many experts had thought—and that general counsel are sometimes among the culprits.
Beyond its relevance to the audit profession, the survey report discusses important subjects for GCs, such as the role of in-house counsel and attorney-client privilege. It also raises issues for chief auditors, such as the proper functioning of audit committees when internal auditors uncover risky behavior.
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