the external auditors and with the chief audit executive and report the results of the private
consultations to the Board of Directors. In addition, the senior internal audit executive will have
opportunity to meet with independent directors on the Audit Committee at each committee meeting.
ACCOUNTABILITY
The chief audit executive, in the discharge of his duties, shall be accountable to management and
the audit committee to:
• Provide annually an assessment on the adequacy and effectiveness of the organization’s
processes for controlling its activities and managing its risks in the areas set forth under the
purpose and scope of work.
• Report significant issues related to the processes for controlling the activities of the
organization and its affiliates, including potential improvements to those processes, and
provide information concerning such issues through resolution.
• Periodically provide information on the status and results of the annual internal audit plan
and the sufficiency of department resources.
• Coordinate with and provide oversight of other control and monitoring committees and
functions (for example, enterprise risk management, controllership, treasury, governance,
finance, disclosure, ethics and quality committees; risk management, quality assurance,
regulatory compliance, security, legal, environmental, and external audit functions).