An internal auditor provides independent assurance that an organization's internal control processes, governance and risk management are operating effectively, according to the Chartered Institute of Internal Auditors. The job involves providing unbiased, objective and constructive views that help companies succeed.Know More
The Chartered Institute of Internal Auditors explains that internal auditors handle issues that are essential to the prosperity and survival of an organization, such as the firm's reputation, growth, impact on the environment and treatment of employees. They offer assurance, which involves informing managers and governors about the effectiveness of the systems and processes designed to keep the company working. They also provide consulting to improve these systems and processes when needed. Internal auditors must be independent from the operations they evaluate.
Internal auditors report to the highest level in an organization's governance structure, states the Chartered Institute of Internal Auditors. Typically, they report to the board of directors, the board of trustees, the audit committee or the accounting officer. Internal auditors talk to the top executives about complex and strategic issues. By evaluating and improving the effectiveness of the company's control processes, risk management and governance, they are able to assure and help board members and senior management fulfill their respective duties to the firm and its stakeholders.Learn more about Career Aspirations
Qualities necessary to be a successful auditor include efficient organization skills and the ability to multi-task, a knack for problem solving, keen people and communication skills and the desire to innovate. A successful auditor must also be knowledgeable in the subject matter and be interested in ongoing training.Full Answer >
Auditors review, analyze and evaluate processes, services, products, systems and organizations. They are also tasked with examining a company's financial reports to ensure their accuracy and validity for tax and business purposes.Full Answer >
In a hospital, risk management is a department that works to prevent situations within the hospital that may result in profit loss or liability. Risk management departments identify types of risks in the hospital and develop solutions to remove or mitigate these risks.Full Answer >
The seven pillars of clinical governance are clinical effectiveness, audit, risk management, education and training, information management, openness and clinical research. Clinical governance was created with the focus of both maintaining and improving patient care in the National Health Service in the U.K.Full Answer >