Final answer:
The internal auditor should report the weakness to the appropriate management or authority within the organization to address and mitigate the risks.
Step-by-step explanation:
When an internal auditor identifies a weakness, the immediate action they should take is to report it to the appropriate management or authority within the organization. This is important to ensure that the weakness is addressed and necessary actions are taken to mitigate any potential risks or negative impacts on the organization's operations.
For example, if the weakness is related to financial controls, the internal auditor should inform the Chief Financial Officer or the finance department. They should provide a detailed report highlighting the specific weakness, its potential consequences, and any recommendations for improvement.
This immediate action allows the organization to take corrective measures and strengthen its internal controls, which can help prevent fraud, minimize errors, and promote transparency and accountability.