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Recommendation Brief for an Internal Auditor - Essay Example
Author : ghahn
Finance & Accounting
Pages 3 (753 words)
Internal Auditor Internal Auditor Introduction Internal auditing includes all self and independent auditing activities carried out by an organization in order to add value to its overall operations. This approach greatly assists a firm to accomplish its objectives by effectively evaluating and improving risk management, control, and governance processes…
The author adds that an internal auditor has a crucial role to play in each and every phase of business activity. To illustrate, an internal auditor needs to go beyond financial records to obtain a deep understanding of the business operations under consideration. It is the duty of an internal auditor to review and appraise the soundness and feasibility of existing financial and other operating controls. In addition, he works to promote effective internal control at a fairly low cost. Internal auditor plays a pivotal role in evaluating whether or not the current business practices exhibit compliance established policies, processes, and procedures. In the words of Ridely, another important duty of an internal auditor is to identify the “extent to which company assets are accounted for and safeguarded from losses of all kinds” (Ridely, 2008, p.9). It is the function of an internal auditor to ensure the reliability of data management practices carried out in the organization. In addition, he has to monitor the performance quality of top executives and other personnel in performing their assigned responsibilities. ...