According to the Institute of Internal Auditors (IIA): "Internal auditing is an independent, objective assurance and consulting activity designed to enhance and preserve organizational value. It helps a business accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Effective internal auditing supports good organizational governance and oversight, which reinforces trust and builds credibility among the institution’s stakeholders.

As business evolves, so too does the role of the internal auditor. In just the last year, internal auditors:

• played a vital role in helping organizations respond to the COVID-19 pandemic;
• began ensuring integrity and compliance with significant infrastructure projects that are part of the Infrastructure Investments and Jobs Act;
• continued helping organizations ensure compliance with emerging regulations related to environmental, social, and governance (ESG) initiatives and navigate the implications of these increasingly-important measures;
• took on increased importance in helping companies prepare for – and respond to – unprecedented cybersecurity risks.

Internal auditors also have an important responsibility to protect the public interest. The IIA’s International Standards under the International Professional Practices Framework (IPPF) enhance internal auditors’ ability to provide independent and objective assurance to boards of directors and management, enabling internal auditors to build trust and confidence among internal and external stakeholders, including the public, which is essential to business and society." Consequently, "Internal Audit Awareness Month is an important opportunity to educate stakeholders and the public about the vital role internal auditors play in organizations and governments of all sizes. Every day, internal auditors work to reduce risk, ensure businesses operate efficiently, provide value to their organizations, and protect stakeholders. You can find us in every industry and sector, from the world’s largest brands to small, family-run businesses. The average person may not realize just how many ways we impact your life, but by the time you get to the office in the morning – or log on to your computer if you’re a remote worker – you’ve probably already interacted with several devices, products or systems that were made safer by the assurance provided by an internal auditor.”

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