Internal audit plays a role of risk management mechanism in organizations. Internal audit play a critical role in monitoring the risk profile of an organization. Further, it should classify areas in order to provide better risk management procedures (Lindow and Race, 2002). An internal audit can be obliging for corporation in identifying and evaluating risks and lay the profession at the front line of the risk management (Walker et al.,2003, p.52). Besides, Kwan (1999) explains that inside a company, development of a risk based culture is essential in order to construct a strong organizational commitment for risk management i.e. the development of an integrated risk management framework.