Internal Auditing Defined
- An independent, objective assurance, and consulting activity designed to add value and improve an organization’s operations.
- Helps the organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate, and improve the effectiveness of risk management, control, and governance processes.
- Reviews the reliability and integrity of information, compliance with policies and regulations, the safeguarding of assets, the economical and efficient use of resources, and established operational goals and objectives.
- Internal audits encompass financial activities and operations.