This project has qualitatively studied the correlation
between internal auditors and AC members. The deep analysis of this correlation
leads to the following conclusions. Generally, it is obvious that both each of
internal audit and audit committee expect high level of performance of each

Audit committee rely on the internal audit to provide the
information that is primordial to accomplish their duties. This lack or
asymmetry of information is an obstacle that prevents audit committee form
fulfilling their role.


Therefore, internal auditors are expected to provide and
communicate their achievement to the correct functioning of the corporation
during the few insufficient meetings that occur during the year. In addition, audit
committee have high expectations concerning risk management and being proactive
in this area. It expects internal auditors to plan and monitor all possible
practices able to reduce financial risk.


In this case, it’s clear that most Audit Committee members lack
of knowledge of the topics which should be discussed in meetings, moreover the general
Audit Committee agenda is centralized on financial performance without paying
attention to operational details. We can assume that stronger communication
between Audit Committee and internal audit about their mutual expectations
would increase the performance and productivity of internal audit.

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 We found that the
strength of corporate governance is closely related to the strong two-way
communication with internal audit.


Internal auditors’ complaints are focused on interactions
limitations and constrained time. They are unsatisfied with the opportunity to
be a part of meetings with audit committee since they are unable to entirely
communicate their views, ideas and findings about the business functioning.
Also, internal auditors are not receiving clear feedback and recommendations
from the part of audit committee.


A mismatch of interests lies behind difference between
expectations of the two parties from each other, which leads to the conclusion
that positive relationship requires coordination and matching of interests in a
broad way within the organization. 


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