Papers > Business > Auditing Both Internal and External
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Auditing Both Internal and External
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WHEN THE EXTERNAL AUDITOR ALSO PERFORMS THE INTERNAL AUDIT
This article drives home the question of asking just how objective are auditors that perform both external and internal audits? ... A survey conducted showed that financial analysts were fine with the same firm performing both internal and external audits. ... Likewise, this was the sentiment held when a company outsourced its internal audit function to another firm. ... The SEC has an outsourcing rule that restricts companies from outsourcing more than forty percent of the internal audit function to their own external audit firm. ... Just a couple of years back the Securities and Exchange Commission’s Arthur Levitt forewarned that auditors in an accounting firm might suffer from pressure to bend the rules if their firm also held a consulting contract with the same (much like the scenario of internal AND external audits of the same, by the same).
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Paper Information
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Title: Auditing Both Internal and External
Words: 559
Rating: None
Pages: 2.2
submitted by: mjohnson972
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