Recent research shows the board of directors is delegating oversight of management's enterprise risk management (ERM) responsibilities to the internal audit department in place of a board level committee.

Question

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The board of directors typically delegates oversight of management's enterprise risk management (ERM) responsibilities to a board-level committee, such as the audit committee or a risk committee, rather than directly to the internal audit department. The internal audit department may play a key role in evaluating the effectiveness of ERM practices, but oversight and governance are generally retained at the board or committee level.

Recent Research Shows the Board of Directors Is Delegating Oversight