Internal auditor

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Related to Internal Auditors: External auditors

Internal auditor

An employee of a company who analyzes the company's accounting records to ensure that the company is following and complying with all regulations.

Internal Auditor

A person or persons employed by a company who review their own company's business activities to identify inefficiencies, reduce costs, and otherwise achieve organizational objectives. Internal auditors may investigate potential theft or fraud and ensure compliance with applicable regulations and policies. They also assist in risk management. In a large company, especially a publicly traded one, internal auditing is conducted by a board independent from any management and answerable only to an audit committee, a subcommittee on the board of directors. The growth of internal audits accelerated following the 2002 passage of the Sarbanes-Oxley Act, which increased the accounting regulations for public companies.
References in periodicals archive ?
Internal auditors were once thought of solely as the go-to people for all issues relating to financial controls and governance.
March 7, 2013 /PRNewswire/ -- Internal auditors looking to gain a professional edge will want to sharpen a number of non-technical skills, according to a new white paper just released by Robert Half and The Institute of Internal Auditors.
In any audit committee I chair, I make time for the committee to interact with the internal auditor and ask questions like 'What around here keeps you awake at night?
While insurance company internal auditors cannot regulate the pressure employees feel, they can help mitigate the opportunity to commit fraud.
Internal auditors should ensure that fundamental control principles are part of the policies and procedures of their organization.
Another important step that could pave the way for more Emiratis to become certified internal auditors is the launch of the Arabised version of the Certified Internal Auditor (CIA) qualification, he said.
A 2005 survey of 117 chief internal audit executives found that in 88% of their companies external auditors relied to some extent on the work of the internal auditors (Kaplan & Schultz, 2006).
That is, by stating that the level of coordination between the external and internal auditors is considered, the audit committee charters imply that the internal auditor assists, or potentially assists, the external auditor with attestation duties.
Experience as internal auditor in PSU on PAN INDIA basis.
Such behavior is essential because today's internal auditors must anticipate and respond to a constant stream of new challenges, many of which deliver uncertain and still unfolding risk implications.
Conceptual review of the Section 404 law Sarbanes-Oxley (2002) shows a part of the effort to enact this legislation is spend attention to the ability of internal auditors [4], internal auditor's characterestics such as maintaining autonomy, competence and objectivity of their judgment.

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