Internal auditor

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Related to Internal auditor: Certified Internal Auditor

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 ?
Chambers is president and CEO of The Institute of Internal Auditors (IIA), the global professional association for internal auditors (www.
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.
On behalf of the Global Institute of Internal Auditors, I would like to offer our heartfelt thanks to the Government of Qatar and HE Abdullah bin Hamad al-Attiyah for their support to the profession of internal auditing," Tarling said.
The materiality or the misstatement threshold used by the external auditor differs from the one used by the internal auditors.
Currently internal auditors have neither the time budgeted nor the mandate to look at strategic risks.
b) The internal auditor may be given the role of a contact point for concerns to be raised;
The association's founder, Terry McEachern, got the idea for the ACUIA after attending a professional seminar in 1988 when she met a few other credit union internal auditors.
8220;By writing this article, I was able to convey that as organizations transition many operations to third-party vendors, internal auditors need to examine the increased risks in outsourcing.
As of 1988, to obtain an approved certificate for the internal auditor, a new specific set of professional rules of conduct were put in place.
An employee who acts as an internal auditor is encouraged to work closely with colleagues in an effort to get audits completed year after year.
Tabuena (2010) notes that a common criticism of internal auditor involvement in risk management activities is that the traditional internal audit findings related to compliance testing and controls assurance can lose some of their independence and authority if the work of the internal audit department is more closely integrated with traditional management functions and prerogatives.

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