SmartSuite for the Chief Audit Executive
The Chief Audit Executive leads the internal audit function and reports functionally to the audit committee. They own the risk-based audit plan, the audit methodology and the function's independence, and give the board objective assurance over governance, risk management and control.
What you own
- Develop and maintain the risk-based annual audit plan
- Report functionally to the audit committee and administratively to executive management
- Safeguard the independence and objectivity of the internal audit function
- Set the audit methodology and the quality assurance and improvement programme
- Oversee engagement execution, reporting and follow-up of management actions
- Coordinate assurance with the second line and the external auditor
- Report to the board on assurance coverage, significant findings and remediation
Where the role sits
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Reports to
Direct reports
Works closely with
GRC processes
The shared GRC process map, highlighted for this role.
Owns
accountable for the process
Touches
contributes or approves
Depends on
consumes its output
How SmartSuite helps, suite by suite
Each card is the persona record from that suite's Users tab.
How they use the Internal Audit Management suite
Audit oversight
Monitors coverage, engagement status, key risk indicators, and open issues.
Strategic alignment
Links annual audit plans to enterprise risks and strategic objectives.
Board & executive reporting
Generates automated reports summarizing assurance activities and remediation progress.
Suites that serve this role
How SmartSuite supports this role
Internal audit. Gives the CAE complete visibility across the audit lifecycle: coverage against the audit universe, engagement status, key risk indicators and open issues, in one view.
Risk management. Links the annual audit plan to enterprise risks and strategic objectives so coverage is demonstrably risk-based.
Issues and actions. Tracks every finding to closure with owners and due dates, and flags aging actions before the committee asks.
Compliance management. Connects audit results to compliance testing and SOX evidence so the three lines report from the same records.
Reporting. Generates audit committee and executive reports summarising assurance activity and remediation progress without manual compilation.
Industry reference
The IIA's Global Internal Audit Standards (2024, effective January 2025) define the role: a chief audit executive who reports functionally to the board, owns a risk-based plan and runs a quality assurance and improvement programme with an external assessment at least every five years. NYSE listing rule 303A.07 requires listed companies to maintain an internal audit function.
Banking supervisors go further. The Basel Committee's The internal audit function in banks (2012) and the OCC's heightened standards (12 CFR 30, Appendix D) expect an independent audit function reporting to the audit committee. Public sector audit functions follow GAO's Government Auditing Standards (the Yellow Book) alongside the IIA Standards; healthcare systems reference the OIG's compliance guidance for audit coverage.
In their words
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