Bruce Branson, Associate Director of the ERM Initiative at NC State University interviews Bob Anderson, VP of Internal Audit and Corporate Compliance at The Home Depot about how his organization has achieved efficiencies through the coordination of the ERM process with the internal audit function. Bob points out that the ERM process is an important source of information for the development of the audit plan and provides comfort that there are few, if any, gaps that have been overlooked in the audit plan. He continues by discussing how the two programs are independent, sharing only common leadership. Bob also discusses the nature of the reporting that is done to both the audit committee and the full board with respect to internal audit findings and the identification of key risks.
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