Certified in Risk and Information Systems Control (CRISC) Practice Test

The organization responsible for internal audits is typically the Internal Audit Assurance (IAA). The IAA is a critical component of an organization's governance structure, focusing on assessing and improving the effectiveness of risk management, control, and governance processes. It operates independently within the organization to provide objective evaluations, ensuring that policies and procedures are followed and that risks are adequately managed.

Internal audits conducted by the IAA play a vital role in helping organizations achieve their objectives while maintaining effective controls. Their assessments often include examining financial records, compliance measures, and operational efficiencies. This independent evaluation is essential for identifying areas of improvement and ensuring that the organization is adhering to applicable regulations and standards.

While management, the Board of Directors, and the Independent Audit Committee play significant roles in governance and oversight, they do not typically conduct internal audits themselves. Instead, they rely on the findings and recommendations provided by the internal audit function to inform their decision-making processes and strategies.