‹ HC-1.3.13 HC-1.4 Transparency and Disclosure › HC-1.3.14 Below the Audit Committee, the bank must set up an internal audit function, which reports directly to the Audit Committee (with a parallel reporting line to senior management for day-to-day matters as appropriate). October 07 ‹ HC-1.3.13 HC-1.4 Transparency and Disclosure ›