Internal Auditing is a sovereign, objective assertion and consulting advisory carried out to add value and optimize an organization's operations. It helps an organization realize its objectives through a systematic and administered approach to evaluate and advance the efficacy of risk management, control, and governance processes. Internal Audit helps management to assess the position of the company periodically. The internal auditor will also point out the management all the short comings in the financial system followed by the company with regard to the statutory, AML and banking regulations. The prime objective of internal auditing is to provide insight into an organization’s culture, policies, procedures, and aid board and management oversight by verifying internal controls such as operating effectiveness, risk mitigation controls, and compliance with relevant laws or regulations.
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