Which of the following statements is true regarding internal auditors and other assurance providers?

The correct answer is C. Internal auditors may rely on the work of internal compliance teams to expand their coverage of. Internal auditors can rely on the work of other assurance providers, including internal compliance teams, to expand their audit coverage efficiently. This practice is based on the principle of leveraging existing assurance functions within the organization to avoid duplication…

Managing the Internal Audit Activity

Question

Options

AAssurance providers who report to management and/or are part of management cannot provide
BInternal auditors should always reperform and validate audit work completed by external
CInternal auditors may rely on the work of internal compliance teams to expand their coverage of
Dhours Internal auditors can rely on the work of other assurance providers only rf the other

How the community answered

(38 responses)

A
3% (1)
B
13% (5)
C
79% (30)
D
5% (2)

Explanation

Internal auditors can rely on the work of other assurance providers, including internal compliance teams, to expand their audit coverage efficiently. This practice is based on the principle of leveraging existing assurance functions within the organization to avoid duplication of efforts and to use resources more effectively. By relying on the work performed by compliance teams, internal auditors can ensure comprehensive coverage without necessarily increasing the direct audit hours. However, it is crucial that the internal auditors evaluate the competence and objectivity of the compliance teams and ensure that their work meets the required standards before relying on it.

Topics

#assurance providers#reliance on other assurance#coordination#internal compliance

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