03-06-2009, 01:36 AM
Dear awaisaftab
Concepts of risk management are not new to profession, however, the role of internal auditors has increased significantly in last 3 decades. Nature of their job is consultative, and not authoritative. They add value through suggestions to management about improvements of controls, processes etc. to manage and mitigate risk. Management and Board of Directors are responsible for risk management and mitigation and to enforce suggestions from CIA. So, you can say that internal auditors have now added responsibilities to provide suggestions for risk management.
I hope it helps.
Regards
Concepts of risk management are not new to profession, however, the role of internal auditors has increased significantly in last 3 decades. Nature of their job is consultative, and not authoritative. They add value through suggestions to management about improvements of controls, processes etc. to manage and mitigate risk. Management and Board of Directors are responsible for risk management and mitigation and to enforce suggestions from CIA. So, you can say that internal auditors have now added responsibilities to provide suggestions for risk management.
I hope it helps.
Regards
