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The audit is the eyes and ears of the owner. So it depends on the size of the organization and the owner's self-awareness.
The bigger or more complex the organization is, the more it needs Internal Audit.
The less control-aware the owner is, the more he needs Internal Audit.
So the need for Internal Audit can be mathematically expressed as:
Organization Complexity X1/Owner's Control-Awareness = Need for Internal Audit