Navigation:


DISCUSSIONS > IIA GENERAL DISCUSSION AREA [ REFRESH ]
Thread Title: Reliance on External Auditor's Work
Created On Wednesday February 20, 2013 10:11 AM
  Reliance on External Auditor's Work
  Reliance on External Auditor's Work
  Reliance on External Auditor's Work


Buddie


Posts: 475
Joined: Apr 2004

Wednesday February 20, 2013 10:11 AM

User is offline View users profile View thread in raw text format

I know internal auditors can use or rely on the work of their company's external auditors for "internal audits" they perform. However, I have always followed the guideline that internal auditors cannot use external auditor's work for the Sarbanes-Oxley 302 internal control evaluation and testing that internal auditors do on behalf of their company. I have not found any current guidelines that differently; but, want to double check. Therefore, is anyone aware of any changes in guidelines that allow us internal auditors to reduce our 302 evaluation and testing scope because their external auditors review and test the same internal controls? Naturally if allowed it would still exclude 302 testing that the external auditors allows the internal auditors to perform for them to help reduce their fees.

Reply
Quote
Top
Bottom



LivetoLearn


Posts: 49
Joined: Jul 2010

Wednesday February 20, 2013 11:55 AM

User is offline View users profile View thread in raw text format

In my case, the external auditor relies on my work. He is actually auditing me to test if my work is done correctly. Does this situation change according to the type of business conducted?

Reply
Quote
Top
Bottom



Buddie


Posts: 475
Joined: Apr 2004

Wednesday February 20, 2013 12:11 PM

User is offline View users profile View thread in raw text format

Thanks LiveToLearn, as I previously mentioned the external auditors rely on on our SOX work but still not sure if we can rely on the external auditors SOX work. Still don't think we can rely on external auditors work. Anyone know differently?

Reply
Quote
Top
Bottom

DISCUSSIONS > IIA GENERAL DISCUSSION AREA [ REFRESH ]
The Institute of Internal Auditors • 247 Maitland Avenue Altamonte Springs, FL. 32701-4201 USA
+1-407-937-1100 • FAX +1-407-937-1101 • www.theiia.org