How do the Standards support the audit function’s alignment with organizational strategy?

By understanding how the organization establishes strategic objectives, makes decisions, oversees risk management, and promotes an ethical culture, the chief audit executive ensures that the audit function is aligned with the organization’s goals and objectives. Additionally, the chief audit executive’s comprehension of how the organization manages key risk areas — such as the reliability and integrity of information, operational effectiveness, asset safeguarding, and regulatory compliance — further aligns the audit function with the strategic direction of the organization. This comprehensive understanding facilitates effective performance management, accountability, and communication across the organization, ensuring that the audit function not only supports but enhances the organization’s strategic objectives.