While larger listed companies are increasingly introducing an Internal Audit Function (IAF), this position rarely exists within smaller listed companies. The main reason cited is that these firms believe they are too small for such a role. This is one of the conclusions of the Internal Audit Monitor 2017 study carried out by FSV Risk Advisory on behalf of the Stichting Vaktechnisch Onderzoek IIA in collaboration with Nyenrode Business Universiteit.