101 paragraphs found
Many entities establish internal audit functions as part of their internal control and governance structures. The objectives and scope of an internal audit function, the nature of its responsibilities and its organisational status, including the …
ASA 315 addresses how the knowledge and experience of the internal audit function can inform the external auditor’s understanding of the entity and its environment, the applicable financial reporting framework and the entity's system of internal control, …
Depending on whether the internal audit function’s organisational status and relevant policies and procedures adequately support the objectivity of the internal auditors, the level of competency of the internal audit function, and whether the function …
There may be individuals in an entity that perform procedures similar to those performed by an internal audit function. However, unless performed by an objective and competent function that applies a systematic and disciplined approach, including quality …
The external auditor has sole responsibility for the audit opinion expressed, and that responsibility is not reduced by the external auditor’s use of the work of the internal audit function on the engagement. Although they may perform audit procedures …
International Standard on Auditing ISA 610 Using the Work of Internal Auditors , paragraph 5 makes it clear that the requirements and application and other explanatory material in that standard relating to direct assistance do not apply in jurisdictions …
See ASA 600 Special Considerations—Audits of a Group Financial Report (Including the Work of Component Auditors) (as amended). …