Responding to external auditors

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External auditors approached me to assess whether they can rely in the work performed by internal audit
Type of Resource
Industry
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Shared By: Adri
Date: June 22, 2021
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Responses

  1. Hi Adri,

    Unsure, if you are currently working in an internal audit department and if your department does the SOX test work for management. Because this request is very common and it gives the internal audit department an opportunity to get credit for their work and possibly lower external audit fees. I’ve seem many external audit firms rely on internal audits test work for primarily low risk control areas. Perhaps you can select a low risk business process area as a trial run and share your documentation with them. This way they can assess and provide feedback on additional attributes that they would like in the documentation going forward. Hope this helps! Thanks

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