Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Why do you feel internal auditors have an important role in the company?

user-image
Question added by Deleted user
Date Posted: 2015/02/18

Internal Auditors are important because

1- Internal Audit focuses to look for deficiencies in the system/Processes to mitigate the over all risk of the company; which in return helps to mitigate the risk of fraudulent activities within an organization.

2- Ensure compliance with company's policies & policies of any regulatory authorities.

 

Khurram Shaukat Memon
by Khurram Shaukat Memon , Academic Research Writer , Freelance Academic Research Writer

Internal auditor's role is important, because upper level management is relying on his judgement about controls. They have made him responsible for evaluating internal controls and report on deficiencies and ongoing fraudulent activities. 

Thus his report is an important factor in BOD decision making and so it may be said that internal auditor can help improve organization's performance. 

KEITH JOHNSTON
by KEITH JOHNSTON , Various from Senior Internal Auditor to Internal Audit Manager to ERM/GRC Consultant , Both Public & Private Sector

Internal Audit's objective assessment and reporting on the adequacy of an organisation's Enterprise Risk Management framework is at the centre of it's important role. The latter can be most efficiently and effectively performed as the '3rd Line of Defence' in an organisation's Governance/Risk/Compliance model designed to achieve robust corporate governance. (Please refer to my other related answers for a more detailed explanation of how Internal Audit should perform this '3rd Line of Defence' role).

 

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.