From an organization’s standpoint, because internal auditors are seen to be “internal control experts,” they also are:
a. Fraud risk management process owners, and hence, the first and most important line of defense against fraudulent financial reporting or asset misappropriation.
b. The best resource for audit committees, management, and others to consult in-house when setting up anti-fraud programs and controls, even if they may not have any fraud investigation experience.
c. The best candidates to lead an investigation of a fraud incident involving the potential violation of laws and regulations.

d. The primary decision-maker in terms of determining punishment or other consequences for fraud perpetrators.