Objectivity and competence may be viewed as a continuum.  The more the internal audit function’s organisational status and relevant policies and procedures adequately support the objectivity of the internal auditors and the higher the level of competence …

The application of a systematic and disciplined approach to planning, performing, supervising, reviewing and documenting its activities distinguishes the activities of the internal audit function from other monitoring controls that may be performed within …

Factors that may affect the external auditor’s determination of whether the internal audit function applies a systematic and disciplined approach include the following: The existence, adequacy and use of documented internal audit procedures or guidance …

The external auditor’s evaluation of whether the internal audit function’s organisational status and relevant policies and procedures adequately support the objectivity of the internal auditors, the level of competence of the internal audit function, and …

Consideration of the factors in paragraphs A7 , A8 and  A11 of this Auditing Standard individually and in aggregate is important because an individual factor is often not sufficient to conclude that the work of the internal audit function cannot be used …

In addition, the relevant ethical requirements [17] , [*]  state that a self‑review threat is created when the external auditor accepts an engagement to provide internal audit services to an audit client, and the results of those services will be used in …

Once the external auditor has determined that the work of the internal audit function can be used for purposes of the audit, a first consideration is whether the planned nature and scope of the work of the internal audit function that has been performed, …

Examples of work of the internal audit function that can be used by the external auditor include the following: Testing of the operating effectiveness of controls. Substantive procedures involving limited judgement. Observations of inventory counts. …

The external auditor’s determination of the planned nature and extent of use of the work of the internal audit function will be influenced by the external auditor’s evaluation of the extent to which the internal audit function’s organisational status and …

The greater the judgement needed to be exercised in planning and performing the audit procedures and evaluating the audit evidence, the external auditor will need to perform more procedures directly in accordance with paragraph 18 of this Auditing …