Independent Auditors Should Consider the Work of Internal Auditors in Their

question 81

Essay

Independent 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 independent auditors and that of internal auditors?
Explain.
c.Discuss the factors that should be considered by the independent auditors in deciding how much,if any,reliance should be placed on the work of the internal auditors.

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Definitions:

Progesterone

A substance secreted by the ovaries, placenta, and adrenal glands, responsible for controlling the menstrual cycle and maintaining pregnancy.

Extraembryonic Membrane

A set of tissues outside the embryo that provide support and nourishment in the early stages of development.

Shock Absorber

A mechanical device designed to smooth out or dampen shock impulse, and absorb kinetic energy.

Dizygotic Twins

Twins that arise from the separate fertilization of two eggs; commonly known as fraternal twins. Compare with monozygotic twins.