What is a key responsibility of an internal auditor?

The key responsibility of an internal auditor is to conduct the audit in a planned and timely manner. This aspect is crucial because effective auditing is built on thorough preparation and adherence to schedules, which facilitates the identification and assessment of risks. Planning ensures that the auditor can allocate sufficient resources, prepare appropriate audit criteria, and gather necessary information systematically. Timeliness is equally important because it allows the organization to address potential issues promptly, enhancing the management’s ability to respond effectively.

While ensuring regulatory compliance and enforcing policies and procedures may be part of an internal auditor’s broader objectives, these are not primary responsibilities. The primary focus is on the audit process itself—how it is structured, executed, and concluded within the allocated time frame. Providing training to staff is also an important function within an organization, but it does not fall under the direct responsibilities of an internal auditor. Their main role revolves around the audit process rather than training or compliance enforcement.