What is one of the responsibilities of Internal Audit within an organization?

The responsibility of Internal Audit to provide evaluations of existing risks is fundamental to the organization's governance and control framework. Internal Audit serves as an independent function that assesses the adequacy and effectiveness of risk management processes, internal controls, and governance practices. By identifying and evaluating risks, Internal Audit helps ensure that the organization can achieve its objectives while mitigating potential issues that could negatively impact operations or compliance.

Evaluating existing risks allows Internal Audit to offer valuable insights on areas where controls may need strengthening or where there might be opportunities for efficiency improvements. This proactive approach is essential in maintaining a robust risk management posture, enabling the organization to navigate its environment effectively and safeguard its assets.

In contrast, strictly enforcing compliance policies is typically a function of compliance departments rather than Internal Audit. While Internal Audit may provide insights on compliance effectiveness, it is not primarily responsible for enforcement. Handling patient relations falls under operational roles that directly engage with patients, and defining company objectives is typically the prerogative of senior management and strategic planning teams. Thus, the focus of Internal Audit on evaluating risks underscores its critical role in promoting accountability and supporting strategic decision-making within the organization.