The IAC valve is controlled by the engine control unit (ECU). The ECU uses a variety of sensors to determine the engine speed and load, and then adjusts the IAC valve accordingly to maintain the desired idle speed.
If the IAC valve is not working properly, the engine may idle too high or too low, or may stall when the load on the engine changes. If you are experiencing any problems with your engine's idle speed, you should have the IAC valve checked.