The primary objectives of internal audits include:
1. Evaluating Risk Management: Assessing how well the company identifies, analyzes, and manages risks. 2. Assessing Internal Controls: Ensuring that controls are in place and functioning as intended. 3. Improving Operational Efficiency: Identifying areas where processes can be streamlined or improved. 4. Ensuring Compliance: Verifying adherence to laws, regulations, and internal policies. 5. Protecting Assets: Ensuring that assets are safeguarded against theft, loss, or misuse.