Which of the following is a primary responsibility of an internal auditor?

The primary responsibility of an internal auditor is to evaluate controls and processes within the organization. This involves assessing the efficacy and efficiency of the credit union's operations, identifying areas for improvement, and ensuring compliance with regulations and policies. Internal auditors play a crucial role in risk management by examining the internal control systems, helping to ensure that the organization is protected against fraud, waste, and inefficiency.

By focusing on evaluating controls and processes, internal auditors provide valuable insights that can enhance the organization’s operational performance. This is essential for maintaining the integrity and reliability of financial reporting and operational activities. Through their evaluations, internal auditors can help management and the board of directors understand the risks associated with their processes and the effectiveness of controls in place.

In contrast, managing member accounts and overseeing loan approvals are responsibilities typically handled by operational staff or management rather than internal auditors. Conducting external audits is primarily the role of independent external auditors, who assess the financial statements of an organization from an outside perspective. Thus, the evaluation of internal controls and processes is the distinct and central focus of an internal auditor's role.