What is the main role of internal auditing?

The main role of internal auditing is best captured by the description of serving as an independent, objective assurance and consulting activity that adds value to operations. Internal auditors assess the effectiveness and efficiency of operations, risk management processes, and governance structures within an organization. This role entails evaluating not only compliance with regulations but also the overall functionality and enhancement of corporate processes.

By providing this independent assurance, internal auditors are able to identify areas for improvement and contribute to the achievement of an organization's strategic goals. Their involvement is crucial for promoting accountability and transparency, thus enabling informed decision-making within the organization.

This choice reflects the broader scope of internal auditing, which encompasses risk management, compliance, efficiency, and operational improvements, rather than being limited to just one aspect. The emphasis on adding value highlights the proactive nature of internal auditing, influencing both management practices and organizational effectiveness.