Well, are you looking in the right place? It should be under Administrative Tools if that's where you are, here's what the directory should look like...
Control Panel -> Administrative Tools -> Internet Information Services
And that's just a shortcut leading to: '%SystemRoot%\system32\inetsrv\iis.msc'
Also, if you go under Computer Management in the Administrative Tools then you can look for the IIS through there...
Computer Management -> Services and Applications -> Internet Information Services
And depending on what you have installed(SMTP Server, FTP Sites, Web Sites, etc.) you should see those folders?
If you don't see if in either one of those places then your IIS server is probably installed wrong, also download all security updates for the IIS if it's running World-Wide, rather than internal(Intranet I believe). Let me know if that helps...
joedeene