What is a key responsibility of an internal auditor?

A key responsibility of an internal auditor is to assess compliance with laws and regulations. This involves evaluating whether an organization adheres to applicable laws, regulations, policies, and procedures, which is crucial for maintaining legal and regulatory compliance, mitigating risks, and ensuring the organization operates effectively. Internal auditors play a crucial role in identifying areas where there may be weaknesses or non-compliance, helping the organization to implement changes or improvements necessary for compliance.

The other choices focus on limited aspects of the internal auditor's role. Reviewing internal audit standards is part of the broader context of auditing practices but does not encompass the full scope of an internal auditor's responsibilities. Performing IT audits exclusively would mean narrowing the auditor's focus too much, as their responsibilities cover a wide range of operational and compliance areas beyond just IT. Lastly, simply reporting findings to management diminishes the internal auditor's role in analyzing, evaluating, and recommending improvements based on their findings. An effective internal auditor engages in continuous monitoring and proactive assessments, not just reporting what they find.