It is common for large corporations to have risk management teams; often these overlap with the internal audit function.
The scope of work may focus on one or more aspects of the internal audit function.
The essential point was that, in those major companies with a active internal audit function, it already had enough on its plate.
An internal audit function is required by law and must be independent of operational management.
Department officials recognize the value of the audit function.
Out of 900 employees, 300 are in the audit function.
They are often employees of the company, though some accounting firms will also perform internal audit functions for clients.
Parliament wanted financial inspection and audit functions to be separated.
At the same time the internal audit function is carried out in an uncoordinated way by several bodies.
It also performs the audit function of the Council.
