How to Answer: As external auditors, how can we rely on the work of internal auditors?
Advice and answer examples written specifically for a Senior Auditor job interview.
14. As external auditors, how can we rely on the work of internal auditors?
How to Answer
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.
Written by Brian Schuchart on January 4th, 2021
Answer Example
"Audit rules require auditors to obtain an understanding of a client's internal controls. As part of their responsibilities, 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, as external auditors we will often need to do our own transaction testing and therefore cannot rely on the internal audit team's work."
Written by Brian Schuchart on January 4th, 2021
Anonymous Interview Answers with Professional Feedback
Anonymous Answer
Cindy's Feedback