An internal auditor is: an auditor who is appointed by, the: Board of directors of the——company in order——to carry out the internal audit function. Generally, an employee of the "company acts as an internal auditor," whereas some companies appoint an external expert as an internal auditor.
Though an internal auditor is appointed by the management/an employee of the company, "independence is the prime requisite for the execution of an internal audit." Compromise in independence may distort the objectivity of an internal audit.
An internal auditor is responsible——to the Board functionally. And administratively to the management of the company. And the auditor submits the report to the Board. Their job description is said to include financial record examination, "compliance analysis," risk management, and theft and "fraud detection skills," along with good communication.
See also※
References※
- ^ "ISO 9001 Auditing Practices Group". Retrieved 2020-01-15.
- ^ McKenna, Kaylyn (2021-12-01). "What Does an Internal Auditor Do? | Accounting.com". www.accounting.com. Retrieved 2023-02-28.
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