Internal auditing is a valuable resource for management because of its objectivity, skills, and in-depth knowledge of the organization. Internal audit functions are set up by management to assess the internal control system that management is responsible for establishing. Internal audit address aspects of control which may include: 

-Reviewing controls over major projects and new computer systems to help anticipate problems. This can allow corrective action to be timely and controls to be built in rather than retrofitted after being detected by a subsequent audit or system failure.

-Conducting audits of the efficiency and effectiveness of operations.

-Assessing the risks related to reputation, customer service, the environment, privacy, etc.

-Providing consulting and advisory services on control and related matters.

-Participating in the investigation of fraud.