Internal audit and risk management must work together, but their roles must remain clearly defined. Modern guidance from The Institute of Internal Auditors (IIA) emphasizes that internal audit should not be isolated from risk discussions; instead, it should provide independent insights that help strengthen governance and improve the effectiveness of risk management frameworks. While internal audit can advise, identify gaps, and support better coordination across the organization, it must never take ownership of risk decisions or controls. When this balance is maintained, internal audit becomes a valuable partner that brings clarity, assurance, and stronger oversight while management retains responsibility for managing risks.