External Auditors Should Consider the Work of Internal Auditors in Their

question 56

Essay

External auditors should consider the work of internal auditors in their assessment of control risk.
a.Are internal auditors independent of management? Explain.
b.What is the difference between the primary objective of the external auditors and that of internal auditors? Explain.
c.Discuss the factors that should be considered by the external auditors in deciding how much,if any,reliance should be placed on the work of the internal auditors.

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Definitions:

Inhibin

A hormone that inhibits the secretion of follicle-stimulating hormone (FSH) and regulates the production of gametes and reproductive hormones.

FSH Secretion

The release of Follicle Stimulating Hormone by the anterior pituitary gland, playing a crucial role in the reproductive processes of both males and females.

Reproductive Organs

Organs involved in the reproduction process, including the testes in males and the ovaries in females.

Inhibin

A hormone secreted by the gonads that inhibits the production of follicle-stimulating hormone (FSH) by the pituitary gland, thereby affecting reproductive functions.