In the 2016 revision of the Dutch Corporate Governance Code, the internal audit function (IAF) was recognised as an essential link in the direction and control of the organisation. Realising this is not always easy, particularly for smaller listed companies, and it is certainly not one-size-fits-all. Since 2017, IIA Netherlands has tracked the realisation of this principle with the Internal Audit Monitor, not only to map it but above all to give directors and supervisory board members tools to design the IAF as well as possible and to improve the quality of governance.
At the end of 2020, 67% of Dutch listed companies had an internal audit function, against 52% in 2016. The report also looks at the quality of explanations when an IAF is absent, and at combining internal audit and risk management. Read the full article with the figures and findings, or download the report (in Dutch) below.
Download the report: Internal Audit Monitor 2021 (PDF, in Dutch)