internal auditor
Company's financial watchdog
An internal auditor is an employee who examines and evaluates a company's operations, financial records, and compliance with policies from within the organization.
Unlike external auditors who work independently, internal auditors are part of the company itself, reporting to management or a board committee.
Their role extends beyond financial accuracy to include risk assessment, operational efficiency, and ensuring that internal controls function properly.
The internal auditor flagged several inconsistencies in the expense reports.
Freedom from personal bias
- impartialityFreedom from prejudice
- autonomyIndependent decision-making capacity
- neutralityState of taking sides
- unbiasedFree from prejudice
detachment · disinterest · separation · reporting line · nonpartisanship · arm's length · self-assessment · conflict of interest
Supervision or inadvertent omission
- accountabilityObligation for one's actions
- corporate governanceCompany direction and control
- fiduciaryAgent bound by loyalty
- stewardshipResponsible care of entrusted things
transparency · ethics · integrity · charter · assurance · advisory · stakeholders
Evaluating likelihood of harm
- risk managementIdentifying and minimizing threats
- risk appetiteCapacity for accepting uncertainty
- mitigationReduction of severity
- exposureState of being unprotected
likelihood · impact · inherent risk · vulnerability · financial risk
Examining to evaluate
- samplingExtracting subset for study
- walkthroughSequential instructional guide
- verificationProving something accurate
- inspectionFormal assessment of condition
review · evaluation · documentation · vouching · tracing · reconciliation · evidence gathering · working papers
U.S. foreign intelligence service
- CPALicensed accounting professional
- certifiedOfficially declared valid
- professional standardsExpected conduct in occupations
- continuing educationOngoing professional coursework after graduation
chartered · qualification · designation · licensing · competency · training · expertise · specialization
Enforced rules and standards
- standardsAccepted levels of quality
- policiesAdopted courses of action
- proceduresSet methods for tasks
- Sarbanes-OxleyCorporate governance reform law
conformity · controls · regulatory bodies · monitoring · certification · accreditation · statutory requirements · legal compliance
Formal written findings
- recommendationsProposed courses of action
- observationsNoted perceptions
- deficienciesInsufficient amounts of something
- remediationAct of correcting faults
action plan · follow-up · corrective action · root cause · exception · gap analysis · final report
objectivity
Freedom from personal bias
- impartialityFreedom from prejudice
- autonomyIndependent decision-making capacity
- neutralityState of taking sides
unbiased · detachment · disinterest · separation · reporting line · nonpartisanship · arm's length · self-assessment · conflict of interest
oversight
Supervision or inadvertent omission
- accountabilityObligation for one's actions
- corporate governanceCompany direction and control
- fiduciaryAgent bound by loyalty
stewardship · transparency · ethics · integrity · charter · assurance · advisory · stakeholders
risk assessment
Evaluating likelihood of harm
- risk managementIdentifying and minimizing threats
- risk appetiteCapacity for accepting uncertainty
- mitigationReduction of severity
exposure · likelihood · impact · inherent risk · vulnerability · financial risk
testing
Examining to evaluate
- samplingExtracting subset for study
- walkthroughSequential instructional guide
- verificationProving something accurate
inspection · review · evaluation · documentation · vouching · tracing · reconciliation · evidence gathering · working papers · fieldwork
CIA
U.S. foreign intelligence service
- CPALicensed accounting professional
- certifiedOfficially declared valid
- professional standardsExpected conduct in occupations
continuing education · chartered · qualification · designation · licensing · competency · training · expertise · specialization
regulations
Enforced rules and standards
- standardsAccepted levels of quality
- policiesAdopted courses of action
- proceduresSet methods for tasks
Sarbanes-Oxley · conformity · controls · regulatory bodies · monitoring · certification · accreditation · statutory requirements · legal compliance · code of conduct
report
Formal written findings
- recommendationsProposed courses of action
- observationsNoted perceptions
- deficienciesInsufficient amounts of something
remediation · action plan · follow-up · corrective action · root cause · exception · gap analysis · final report
- investigatorsdetective, investigator, inspector, sleuth, gumshoe
- Accountantsaccountant, public accountants, chartered accountants, bookkeeper, CPA
- auditors
- corporate jobsaccountant, actuary, analyst, CFO, controller
- Fraud Investigatorsforensic accountant, insurance investigator, claims adjuster, bank examiner
- oversight bodiesoversight board, ethics committee, oversight committee, ethics board, inspector general
internal auditorauditee
One being examined financially
CFO · controller · bookkeeper · accountant · treasurer
internal, auditor, intern, internals, internally, internalize, internalized, internalizing, internalization