Audit committees have existed in the private sector since the mid-1980s to support organizations, Boards of Directors and Supervisory Boards in their oversight responsibilities. They have recently become more common in the public sector, reflecting the demand for more effective internal audits and internal controls to support greater efficiency as, more than ever, authorities strive to meet their objectives. In response to the growing interest in audit committees in PEMPAL countries, the Internal Audit Community of Practice (IACOP) undertook a review of how audit committees assist in advancing public internal control reforms and support managerial accountability and to consider their relevance and added value. This publication summarizes the good practice collected.
