Ensure the Internal IT Audit Manager's compensation and appraisals are conducted by the Board of Directors or audit committee.

UCF ID: 01186

Control Type: Establish Roles

Status: Live

Supporting and supported controls

This control directly supports:

Define the roles and responsibilities of the Internal IT Audit Manager. [UCF Control ID 00680]

There are no supporting controls.

Authority documents complied with:

FFIEC IT Examination Handbook – Audit, August 2003, Pg 9, Exam Tier I Obj 5.2; FFIEC IT Examination Handbook – Management, Pg 10; Corporate Governance in listed Companies – Clause 49 of the Listing Agreement, § II(E)(5)

Banking and Finance Guidance

The Board of Directors or the audit committee should conduct the internal audit manager's performance evaluations and compensation. [Pg 9, Exam Tier I Obj 5.2, FFIEC IT Examination Handbook – Audit, August 2003]

The Board of Directors should be responsible for overseeing the audit department's compensation and performance appraisals. [Pg 10, FFIEC IT Examination Handbook – Management]

Asia and Pacific Rim Guidance

The audit committee is required to review the appointment and removal of and amount of payment to the Chief Internal Auditor. [§ II(E)(5), Corporate Governance in listed Companies – Clause 49 of the Listing Agreement]