This research explores how internal audits and audit committees impact the way companies manage risks. They studied Malaysian listed companies with internal audit departments and found that when internal auditors are independent, it helps improve risk management practices. Additionally, when internal auditors prioritize their work on risk management, the implementation of risk management is more successful. The study also suggests that having support from the audit committee is crucial for effective risk management, specifically in developing policies, procedures, strategies, and following up on actions. The research indicates that companies that outsource their internal audit functions may also benefit from these findings.