Internal auditors are the person hired or employed by the organization, to help monitor organization internal control and help the management of the organization manage risk facing the organization. The duties of the internal auditor depend on the nature of organization activities since the auditor is hired or employed by the organization to ensure that the organization achieves its strategic objectives.
The duties of an internal auditor include:
- Monitoring of organization and internal control. Internal auditors perform this duty by performing tests on internal control put in place by the management of the organization and evaluating whether these controls are followed or not.
- Advising management on how they can improve internal controls. After performing the test on internal control, the internal auditor issues a report in which he points out the weakness of internal controls and gives recommendations to management on how they can improve the controls.
- Another duty of an internal auditor is to help manage the risks which face the organization. The auditor fulfills this duty by pointing out the level of risks in his reports and helping evaluate risks in various areas pointed out by management.
- Hosting external auditors during the external audits. In many organizations internal auditor acts as host to external auditors by standing as the coordinator between the organization and external auditor.
To perform his duties internal auditor is required to be independent, even though his independence may not be as high as that of the external auditor. The internal auditor is hired or employed by the organization to add value to organization activities by providing an independent evaluation of organization activities to ensure the organization achieves its strategic objectives.