Internal Auditing Process: According to the open source definition of internal auditing activity “Internal Audit Activity can be define as set of independent activities which provide the assistance to objective based and consulting activities to the business organizations regarding their projects and operational activities.” Internal audit activity is now considering as most important for business departments and organizations to list at the stock exchanges in United States of America. As we know that the Institute of Internal Auditors (THE IIA) defines the internal auditor activities as follows “ Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations” 1. ...