Register now or log in to join your professional community.
Internal audit can be very beneficial for external or third party audit
Internal audit reports can help external or third party auditor
Third party auditor will make50% of work they already do when there is internal audit in company
Internal Auditing is for management control, External Auditor responsibility is only to give opinion, i.e true and fair view, however, misstatements, errors or fraud is management responsibility.
internal auditing is necessary for every manufacturing company, beccause it is control laid down in organization whether the objective have been achieved ,resources are efficiently consume
Internal auditing is indeed beneficial for any organization operating in any industry. If your question is whether outsourcing the internal audit function to a third party auditor? Then I would say "Yes" because outsourced internal audit professionals can bring in a vast amount of expertise to make the internal audit function much more effective than an in-house internal audit function.
