Internal audit Function(IAF) as one of the internal mechanisms of corporate governance, can help executive managers and audit committee members in performing their duties. According to the Global Internal Auditing Standards(2024), the audit committee and management are the primary stakeholders of internal auditing. The chief audit executive (CAE) will report functionally to the board/audit committee/supervisory committee and administratively (i.e., day-to-day operations) to the chief executive officer (CEO). Based on past research and professional literature, it is not clear whether the IAF meets the needs of both groups. The purpose of this research is to investigate the factors affecting the use of the IAF’s work by executive managers and audit committee. In this regard, 138 CAEs of listed companies in Tehran Stock Exchange (TSE)& Iran Fara Bourse (IFB) were surveyed in 2021. A questionnaire was used to collect the research data, which was based on the work of Ulrich et al. (2019) and customized according to the conditions of Iran. Finally, the results using multiple linear regression have shown that both executive managers and audit committee mostly use the work of the IAF, which are related to the effectiveness of internal controls and strategic project report. Therefore, given the common interests of the two stakeholder groups, it is suggested that internal audit consider strategic plans and focus on assessing the effectiveness of internal controls, which are its primary responsibilities.