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According to Standard 2050 – Coordination and Reliance:<br />
The chief audit executive should share information, coordinate activities, and consider<br />
relying upon the work of other internal and external assurance and consulting service<br />
providers to ensure proper coverage and minimize duplication of efforts.<br />
Interpretation:<br />
In coordinating activities, the chief audit executive may rely on the work of other assurance<br />
and consulting service providers. A consistent process for the basis of reliance should be<br />
established, and the chief audit executive should consider the competency, objectivity, and<br />
due professional care of the assurance and consulting service providers. The chief audit<br />
executive should also have a clear understanding of the scope, objectives, and results of the<br />
work performed by other providers of assurance and consulting services. Where reliance is<br />
placed on the work of others, the chief audit executive is still accountable and responsible<br />
for ensuring adequate support for conclusions and opinions reached by the internal audit<br />
activity. 48<br />
Assurance mapping and combined assurance are considered in more detail in section 3D.3.<br />
Some external audits of public entities may also be conducted by providers other than the SAI in<br />
accordance with legal requirements. This occurs where a publicly funded entity is responsible<br />
for tendering for an external provider for some of its statutory audits as well as any additional<br />
external assurance deemed valuable at the discretion of the organizational leadership to<br />
complement the work of the SAI, internal auditors, financial inspectors, and others.<br />
3D.2: Reflection<br />
Which body or bodies conduct external audits of your organization?<br />
What use does external audit make of internal audit findings? What use does internal audit<br />
make of external audit findings?<br />
Do internal and external audit collaborate in any other way, such as training, information<br />
sharing, and planning?<br />
Could a member of the SAI be deployed on an internal audit mission as a guest auditor?<br />
48<br />
International Professional Practices Framework, The IIA, 2016.<br />
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