Who should monitor controls performed directly by senior management?

Monitoring controls performed directly by senior management is essential to ensure accountability and compliance with the organization's policies and procedures. The responsibility for this oversight typically falls under the purview of the governing body or the audit committee. This structure promotes an independent and objective review of senior management's activities, thus enhancing the effectiveness of the controls in place.

The governing body, such as the board of directors, plays a crucial role in corporate governance and is responsible for establishing a framework for oversight, ensuring that senior management operates within the strategic objectives and risk tolerance of the organization. Additionally, the audit committee, often comprising independent board members, is specifically tasked with overseeing financial reporting, internal controls, and compliance with laws and regulations. By entrusting these responsibilities to the governing body or the audit committee, organizations can mitigate the risks associated with potential conflicts of interest that may arise if senior management were to monitor their own controls.

The alternative choices are less suitable for various reasons. For instance, while another member of senior management could potentially monitor controls, this arrangement may lack the necessary independence required for effective oversight. Internal auditors have a dedicated role in assessing risks and controls but may not be in a position to monitor senior-level actions on an ongoing basis properly. Lastly, stating that controls performed directly by