What Do Internal Auditors Do?
The Intstitute of Internal Auditors has developed explanations of what internal auditors do. Here's their introduction and links, from http://www.theiia.org/iia/index.cfm?doc_id=272
Corporate governance comprises the procedures established
by representatives of an organization's stakeholders to provide oversight of
the risk and control processes administered by management. According to The IIA
and thought-leading organizations such as the New York Stock Exchange and the
National Association of Corporate Directors, the four cornerstones of effective
corporate governance are the audit committee of the board of directors,
executive management, the internal auditors, and the external auditors. When
these entities work together well with healthy interdependence, internal controls
are strong, reporting is accurate, ethics are maintained, oversight is
effective, risks are mitigated, and investments are protected. Good corporate
governance is simply good business.