Internal auditing is typically conducted by internal auditors who are employees of the organization but maintain an independent and objective stance. They possess expertise in auditing techniques, risk assessment, and governance frameworks. Internal auditors provide unbiased assessments of the organization’s internal processes and offer recommendations for improvement.

Internal auditing offers several benefits to organizations. It helps identify and mitigate operational and financial risks, enhances the effectiveness and efficiency of processes, ensures compliance with laws and regulations, safeguards assets, improves accountability and transparency, and strengthens overall governance and control systems.

Internal auditing is an independent and objective assurance activity within an organization. It involves evaluating and improving the effectiveness of risk management, control, and governance processes. Internal auditors examine internal systems, procedures, and practices to identify areas of improvement, assess compliance with policies and regulations, and provide recommendations to enhance operational efficiency and mitigate risks.

The purpose of internal auditing is to provide assurance to management and stakeholders that the organization’s operations are conducted in accordance with established policies, procedures, and applicable laws and regulations. It helps identify control weaknesses, operational inefficiencies, and potential risks, allowing management to take corrective actions and strengthen internal controls.