Key Concepts: The Work of Internal Auditors

Internal auditors will often check that internal controls are functioning properly and that numbers are accurate, providing a higher degree of confidence that information is credible.

Internal auditors

• identify inefficiencies and recommend improvements in controls;
• recognize warning signs for potential problems; and
• make suggestions for meeting targets.

Internal auditors may also provide assurance statements in sustainability reports. Check the assurance statement carefully to determine

• the name of the assurance statement;
• the name of the assurance provider;
• the scope of the review;
• the procedures or methodology used in the review process; and
• the opinion or decision made by the auditor.

These characteristics will help you to determine the degree of rigor of the assurance.