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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

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.