Principles:
223. The Board, through the audit committee, should be assisted by a competent internal audit unit
to provide assurance on internal controls, risk management and governance processes in
accordance with the standards of the Professional Practice of Internal Audit.
224. The audit committee should oversee the internal audit function, evaluate its performance and
ensure that the internal audit function is subjected to an independent quality assurance
review.

225. The chief audit executive should report functionally to the chairperson of the audit committee
and administratively to the chief executive officer.

• According to the NATIONAL CODE ON CORPORATE GOVERNANCE ZIMBABWE