Is the internal audit department a risk control department?

Summary: This is completely different. It is a fundamental mistake to regard the internal audit department as a risk control department.

The risk control department is generally led by the highest institution, and several departments should do it together. Internal audit is a part of risk control, not the whole. Generally speaking, internal audit can be regarded as the control department after the event, and it can also participate in the event and before, but the intensity is definitely worse. The best time for risk control is beforehand, so internal audit and risk control cannot be equated, let alone replaced.

Introduction to risk control:

Risk control means that risk managers take various measures and methods to eliminate or reduce the possibility of risk events, or risk controllers reduce the losses caused by risk events.

There are always some things that cannot be controlled, and risks always exist. As a manager, he will take various measures to reduce the possibility of risk events, or control the possible losses within a certain range to avoid unbearable losses when risk events occur. The four basic methods of risk control are: risk avoidance, loss control, risk transfer and risk retention.