Every organisation faces risks, from cyber attacks and fraud to operational failures and changing regulations. Internal audit helps organisations understand those risks, assess whether systems and controls are working effectively and identify opportunities to improve performance.
Unlike external auditors, who focus primarily on financial reporting, internal auditors review a much broader range of areas, including cybersecurity, project governance, regulatory compliance, operational performance and organisational culture.
Why it matters: Strong internal audit functions help organisations make better decisions, strengthen accountability and respond to an increasingly complex environment.
Read the Definition of Internal Auditing