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General Evaluation of Internal audit Function



General Evaluation of Internal audit Function
The external auditor should consider the following:-
  1. Organisational Status :Whether the internal audit is undertaken by the outside agency or by the internal departmemt. To whom the internal audit head reports to ; The rights and limitations in carrying out the audit -These will affect the status in which the audit function is positioned in an organization
  2. Scope of Function : The depth and coverage of areas brought within the fold of internal audit.
  3. Technical competence : The skill content of the operating personnel in the internal audit function.
  4. Due Professional Care: The planning and performance of internal audit function as evidenced by audit program, manual, working papers, documentation, reporting etc.
  5. Consideration of internal audit report : The weight given by management to the reports of internal auditors.

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