The internal audit profession has grown rapidly in the past decade and has developed its own certification program. Many companies are developing policies to recruit new personnel into internal audit departments directly from college campuses.

Required

a. Briefly describe the nature of internal auditing. What does it mean when it is described as an assurance and consulting activity? How does consulting differ from assurance?

b. Briefly explain what the internal auditor’s role is regarding risk management and controls.

c. What might be the primary arguments for hiring individuals into internal auditing who are not CPAs or who might not even be trained in accounting?