Internal Auditor and its Responsibilities:
Any audit’s head who check all the details and signature on audit report is called auditor. Auditor will be specialized as per audit. If you have huge experience in stock audit so you will become expert of stock audit after some years of experience.
Internal Audit have different types of scenario, process and activity which are perform in a organization for testing the real process. It is an independent, Consulting and objective assurance activity designed to add value to improve a company operation.
What is the role of an Auditor in Internal Audit: Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. so the professional who perform internal auditing is called internal auditor.
An Internal Auditor works within a company to monitor and assess how risks are being managed and how internal processes are working. They act as consultants, applying a systematic methodology to their work, looking at ways in which to evaluate the effectiveness of risk management and improve how a company operates overall
An appropriate Internal Auditor have following responsibilities :
- Evaluating the company’s compliance program
- Evaluating how well risk management is being handled within a company – evaluating information security and risk exposures
- Reporting on risk management issues
- Performing an analysis on how the company will perform in the case of business interruption
- Providing continued education and advice to different business units and teams regarding compliance and risk assessment
- Anticipating emerging issues through data and assessment
- Communicating with a variety of stakeholders
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