Internal auditor is an auditor who is appointed by the management of the company in order to carry out the internal audit function. Generally employee of the company acts as an internal auditor where as some companies appoint an external expert as an internal auditor.
Though internal auditor is appointed by the management or an employee of he company; independence is the prime requisites for the execution of internal audit. Compromise in independence may distort the objective of internal audit.
Internal auditor is responsible towards the management of the company and auditor submits the report to the management.