In this episode, Cindy Fornelli, Executive Director at the Center for Audit Quality (CAQ) discusses a joint report the CAQ produced with the Institute of Internal Auditors in March of 2015 titled, Intersecting Roles: Fostering Effective Working Relationships Among External Audit, Internal Audit, and the Audit Committee. Fornelli discusses the key governance themes and findings of the report and stresses the importance of the audit committee pushing for communication among all parties.

Fornelli also discusses what corporate governance solutions or best practices have emerged and the guidance that board members can take away from the report. This episode closes with an analysis of how audit committees can play a critical role in improving internal and external audit team communications and relationships.