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Internal auditing may be said to be the process of coming up with reasonable assurance about the achievements of objectives in relation to reliability of the financial statements, efficiency and effectiveness of operations and up keeping with the set rules, regulations and laws. In addition to this, process of internal auditing may be put in place or, implemented by an organization’s personnel, top management and board of directors.
Internal auditing may be said to consist of two vital activities; determining the management’s process of evaluating how effective the internal control of activities is in a given business entity and, performing given procedures and policies to get adequate information about the internal’s control operating and design effectiveness. Internal auditors are established in a given organization and are meant to do appraisal activities as a service in regard to the organization. Moreover, an internal auditor is established in a given organization so as to perform some of the following activities significantly; monitoring, evaluating and examining the effectiveness and adequacy of the internal control. The internal auditor may have the following merits in a business entity; help the risk management team in coming up with a different range of risks, help in maintaining effective internal control activities, reducing risks that might arise in future, provide reliable financial statements or, reports and guide in the prevention of loss of resources and assets.
In regard to a client looking for an internal auditor, I would recommend Mr. William. This may be because looking at his background a person may see that he is highly qualified; he has a high level education regarding accounting, has an experience of five years as an internal auditor in a well known organization, he is highly recommended by the firms he has worked for and follows rules and regulations to the letter.