Internal auditor

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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 ?
Besides working with businesses and authorities such as the UAE Central Bank, internal auditors around the globe also follow the standards set by the Institute of Internal Auditors (IIA) - a guiding body for internal auditors that supports the strategic and operational decision making of organisations.
While we found some articles describing how to implement automated testing strategies, we didn't find any research examining how useful or effective those systems are, especially for getting external auditors to rely more on internal auditors.
The three-day event caters to more than a thousand internal auditors from across the region to discuss business innovation in the field of internal auditing.
In such organizations, internal auditors must gain insights from the nexus of internal and external environments and information flows, often across borders.
For example, in the basic audit of a performance bonus or commission structure in a sales channel, internal auditors would ask who establishes the criteria for bonuses; whether compensation is tied to doing the right thing for the company; whether bonuses incentivize the appropriate behaviors; and whether messages about expectations are properly communicated.
Chambers is president and CEO of The Institute of Internal Auditors (IIA), the global professional association for internal auditors (www.
SAS 128 focuses on the external auditor's responsibilities when using the work of internal auditors during independent financial statement audits.
Despite the impotence of internal auditors satisfaction especially satisfaction with pay as an essential factors which may affect their performance as well as affect IA effectiveness, the impact of internal auditors' pay satisfaction on the IA effectiveness have not been examined by prior studies.
Yet following corporate culture and corporate governance are important for internal auditors.
Internal auditors plan to strengthen their knowledge of computer-assisted auditing tools along with continuous auditing and monitoring techniques.
Given to that internal auditors considered the financial and non-financial issues and handle operations, the internal auditor's performance may also help managers strengthen control of the company through consulting and assurance services to assist independent auditors in this area [7].
Internal auditors should be the guardians of our corporate life.

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