Which responsibility is most appropriate for the internal audit function, according to the Global Internal...

Providing risk-based advice to organizational stakeholders is directly consistent with the Purpose of Internal Auditing under the Global Internal Audit Standards. The Standards position internal audit as a source of independent, risk-based assurance as well as advice, insight, and foresight that strengthens governance, risk management, control, and organizational decision-making. Internal audit does not normally design and implement organizational policies because doing so would create management responsibility and could impair objectivity. Reporting engagement findings directly to regulators is not a general internal audit responsibility unless required by law, regulation, or a specific mandate. Likewise, performing accounting audits solely because the chief financial officer requests them does not define internal audit’s fundamental role. Therefore, providing risk-based advice to stakeholders is the most appropriate responsibility.