Which of the following information is most appropriate for the chief audit executive to share when coordinating audit plans with other internal and external assurance providers?
A.
Objectives scope and timing at a high level to support coordination while adhering to confidentiality requirements
B.
The area and timing of the audit engagement to ensure confidentially and avoid conflict of interest.
C.
All plan information, including risk assessments, planned tests and past results to maximize the opportunity for coordination with internal and external providers.
D.
No information should be shared with internal and external provider as it could introduce bias into the engagement results.
Coordinating audit plans with other internal and external assurance providers is critical to ensure coverage and avoid duplication of efforts. According to IIA Practice Advisory 2050-1, sharing high-level information such as objectives, scope, and timing supports effective coordination and minimizes the risk of conflicts of interest, while still maintaining confidentiality. Detailed sharing of risk assessments, planned tests, and past results might breach confidentiality and independence standards.
The Institute of Internal Auditors (IIA) - Practice Advisory 2050-1: Coordination of Internal and External Audit Activities
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