What is the distribution of responsibilities between internal audit and external audit?
The division of labour between the external auditor and the Internal Audit department is arranged so that the Internal Audit department conducts an audit and the external auditor ensures that the work is planned, executed, documented and reported as agreed upon. In accordance with Danish law, Danske Bank has prepared a written functional description and an auditing agreement for its Internal Audit department. The functional description sets the scope and duties of the Internal Audit department, while the audit agreement gives guidelines for both internal and external auditing duties and the collaboration between the two functions.
