The external auditor can never rely to any extent on some of the company's evaluation and/or testing of controls,even when performed by a competent and independent internal audit function.

Question

Quizplus · Accepted Answer

External auditors can rely on the work of a competent and independent internal audit function to some extent, as long as they evaluate the adequacy and effectiveness of the internal audit's work.

The External Auditor Can Never Rely to Any Extent on Some