The chief audit executive must communicate results of the engagement to the appropriate parties (Internal Auditing Standard No. 2440). Communications must be accurate, objective, clear, concise, constructive, complete, and timely (Internal Auditing Standard No. 2420). Clear communications are easily understood and logical, avoiding unnecessary technical language and providing all significant and relevant information.
The practice of internal auditing is governed by the International Standards for the Professional Practice of Internal Auditing promulgated by the Institute of Internal Auditors. Internal auditors are expected to comply with these standards.
Internal Auditing Standards require that internal auditors follow up on the actions taken by auditees in regards to any deficiencies found. The auditor should determine that either corrective action has been taken, or that management has assumed the risk of not taking corrective action.
The responsibility of the internal auditor is to review and appraise policies, procedures, plans and records for the purpose of informing and advising management. Unlike external auditors, whose responsibility is to issue an opinion on the accuracy and fairness of management’s assertions regarding the financial statements, the responsibility of the internal auditor is to compare "what is" in the company with "what should be" in the company and report to management their findings. In addition to their findings, the internal auditor develops and communicates suggestions and recommendations for improvement.
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