What is Internal Auditing?
Internal auditing is an independent, objective assurance and advisory service designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of governance, risk management, and control processes.
Performed by professionals with an in-depth understanding of the business culture, systems, and processes, internal auditing provides assurance that the organization’s control processes are adequate to mitigate its risks, governance processes are effective and efficient, and organizational goals and objectives are met.
What is the purpose of internal auditing?
Internal auditing strengthens the organization’s ability to create, protect, and sustain value by providing the board and management with independent, risk-based, and objective assurance, advice, insight, and foresight.
What does an internal auditor do?
Internal auditors are trusted advisors, allies, advocates, and influencers.
They examine how organizations really work, what they do, what they want to achieve, and how well their current systems and processes support that. By conducting interviews, visiting workspaces, analyzing operations, and asking tough questions, internal auditors uncover inefficiencies, identify risks, and offer solutions. Their findings turn into advice. And that advice powers real decisions at the highest levels.
Without internal auditing, there would be no…
- Risk Assessments
- Quality Control
- Value Added
- Objectives Met
