Major Role Or Functions Of An Internal Audit Department/Internal Auditor

The following categories of function may be carried out by an internal audit department:

  1. Advisory– meaning that the internal auditor may recommend improvements and changes in the system in operation and in the setting up of new systems
  2. Executive-the internal audit department may actually deise and install changes and improvements to existing systems and set up new systems
  3. Reporting-the internal audit department prepares routine report on the company’s activities either on a comprehensive, or on an exception basis
  4. Routine testing-the department routinely monitors the performance of the company’s system, eg. by examining and testing controls such as those over buying procedure and by cash counts or stock counts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.