What is the role of internal auditors in an organization?

What is the role of internal auditors in an organization?

Internal auditors are responsible for evaluating and improving the effectiveness of risk management, control, and governance processes.

How do they contribute to risk management?

They identify potential risks, assess their impact, and recommend measures to mitigate those risks, ensuring the organization operates effectively.

What skills are essential for internal auditors?

Essential skills include analytical thinking, attention to detail, strong communication, and a solid understanding of accounting and finance.

Can you explain the difference between internal and external auditors?

Internal auditors focus on internal processes and controls, while external auditors assess financial statements and compliance from an outside perspective.