What do you know abt internal auditing

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Accepted Answer

Internal auditing is a process that evaluates and improves the effectiveness of an organization's risk management, control, and governance processes.

Internal auditing is an independent and objective assurance activity
It helps organizations accomplish their objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes
Internal auditors provide insights and recommendations to management based on their assessments
They assess the reliability and integrity of financial and operational information
They review the organization's compliance with laws, regulations, and internal policies
Internal auditors also evaluate the efficiency and effectiveness of operations
They identify areas of potential risk and suggest ways to mitigate them
Examples of internal auditing activities include conducting financial audits, operational audits, compliance audits, and IT audits

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