What are the main responsibilities of the internal auditor related to risks?

The main responsibilities of the internal auditor related to risks primarily revolve around identifying and mitigating fraud within an organization. Internal auditors play a crucial role in evaluating the effectiveness of risk management practices, ensuring that the controls in place are capable of preventing and detecting fraudulent activities. They conduct audits to assess the integrity of financial reports, safeguard assets, and ensure compliance with laws and regulations, which is particularly vital for recognizing and addressing risks related to fraud.

By focusing on fraud, internal auditors help organizations build robust internal controls and enhance the overall governance framework. Mitigating fraud risks not only protects assets but also contributes to the reliability of financial statements, ultimately helping the organization maintain its reputation and operational efficiency. Other options, while related to risks, are generally considered subcategories or outcomes of potential fraud rather than the primary focus of internal audit responsibilities.