Internal auditing's proper organisational role is to serve as an impartial, objective assurance and consulting activity that offers value to operations.
Internal auditing
Internal auditing is a completely independent, objective verification and consulting activity that adds value and improves the operations of a company. It assists a company in meeting its goals by implementing a systematic, disciplined approach to evaluating and improving the efficacy of risk management, control, and governance procedures. Internal auditing could contribute to achieving this goal by providing insight and recommendations depending on data and business strategy analyses and assessments.
The work of the internal auditor can be used by the external auditor, but it is at the discretion of the external auditor, therefore the audit price may not be decreased. Internal auditors report to the "audit committee, which is comprised of independent non-executive directors," not the executive board of directors.
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