To address the lack of externally available information about internal audit, previous authors
have called for the consideration of an IAR to external stakeholders (Ege 2015; Archambeault et al.
2008). Such an IAR would provide disclosure from the internal audit function directly to the
external stakeholders and could address the composition, responsibilities, and activities of the
internal audit function, as well as possibly provide certain forms of assurance. Such information
could provide useful insights into internal audit’s role in corporate governance.