Internal Auditor Mock Interview
Master 25 Internal Auditor interview questions covering risk assessment, controls testing, and compliance frameworks.
Question 7 of 25
How do external auditors rely on the work of internal auditors?
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Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.
As part of their responsibilities, internal auditors document policies and procedures. In some cases, external audit firms can rely on the work of the internal audit team in conducting the financial statement audit.
Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.
"An internal audit team often documents and assesses internal controls for their organization. In some cases, the external auditors can leverage this work in completion of their financial statement audit. In other words, they don't need to duplicate the work of the internal audit team. However, an external audit firm will often need to do their own transaction testing and therefore cannot rely on the internal audit team's work."
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