Interaction and communication through frequent meetings also allow for discussion about how to improve the financial reporting systems in use by organisations (Mat Zain et al., 2006) and promote improvement in corporate governance quality, as was found by DeZoort and Salterio (2001) who showed this using a sample of 18 heads of internal audit departments. Such meetings can be held on a formal or informal basis, but as noted by Sarens et al. (2013), there is much value in holding informal meetings which can provide a forum for the discussion of issues without placing them on a formal agenda of the committee. Indeed, these researchers confirmed that knowledgeable chairs of audit committees (in terms of internal auditing) are both willing to initiate informal interaction and keen to develop it. Whether through the formal or informal mechanism, regular liaison between audit committee members with financial expertise and the CIA is seen to be of great value, as those members are presented with the opportunity to question managerial decisions and present their own ideas for solutions to particular issues (Mat Zain and Subramaniam, 2007). Further, Burnaby and Hass (2009) reported that 81 per cent of CAEs indicated conformance with the ISPPIA, 72.6 per cent of those CAEs confirmed the presence of an audit/oversight committee and 63.2 per cent of these indicated that regular meetings took place between the CAE and the audit committee chair, over and above the regular audit committee meetings. Based on this discussion, it can be argued that such frequent meetings between audit committee and the CIA provide opportunities for detailed discussions, leading to improvements in the IAF and, specifically, improving internal audit conformance with the ISPPIA: