Can the work of internal auditors be used by external auditors?

Q: Compare and contrast the work of an internal auditor and an independent external auditor.

A: An audit report is provided by the independent external auditor of the company that contains the…

Q: What is the difference between an internal auditor and external auditor?

A: Auditing is the process of thorough examination of financial records with an aim to express an…

Q: What is in the nature of work of an auditor that puts his or her safety at risk? Answer in your own…

A: Auditor is the person who checks the accounts and the financial statements which have to be verified…

Q: What tasks do auditors perform during audit planning, and what techniques are used?

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Q: When would an auditor be hired to perform a compliance audit.

A: An independent professional who is responsible for the examination of the financial statements of an…

Q: What are the roles of internal and external auditors?

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: How will you explain the Auditing Process to someone with experience in Auditing?

A: Auditing: An audit looks at your company's financial records to make sure they're correct. This is…

Q: Do the auditors have a specific goal in mind?

A: Definition: Auditing is a systematic procedure in which an auditor reviews financial statements,…

Q: What procedures do auditors perform to identify subsequent events?

A: Subsequent Event: Subsequent events refer to those events that take place after the preparation of…

Q: What is the difference of Internal Audit from External Audit?

A: Lets start with the basics. Audit is a examination of the books of account of the organization.…

Q: What is an external auditor?

A: Auditor is a person who audits the accounts of the business.

Q: In the auditor's current audit documentation files, what is regarded to be the most significant…

A: Right now, we're working on the following documents: The term "current files" refers to collecting…

Q: What is the primary duty of an auditor?

A: Primary duty of an auditor: Primary duty of an auditor is to express an opinion on the financial…

Q: t an audito

A: The temptation to interpret data in a way that supports assumptions might seduce an audit and derail…

Q: What are the different types of auditors

A: Audit: It is an independent examination of the books of accounts of the company to ascertain the…

Q: What are the three potential tools available to auditors for documenting their understanding of a…

A: The auditor checks the accuracy level in the financial reporting of one entity.

Q: What should an auditor understand with respect to Information and Communication on an audit?

A: Auditing means the inspection of financial accounts of the company to determine if the records are…

Q: Why auditors gather evidences?

A: Auditing is basically an inspection or checking of books of accounts maintained by the business.…

Q: What is considered the most important content of the auditor’s current audit documentation files?

A: The audit staff working on the engagement prepare an audit scheme according to the audit procedures…

Q: A document which the auditor receives from client ,but which was prepared by someone outside the…

A: Auditing is the process of examination or verification of books of accounts of the business in order…

Q: Discuss Theories related to auditors independence

A: An auditor is a person or a firm authorized by the respective institutes to review the various…

Q: What are theresponsibilities of the company’s auditor?

A: An auditor is an independently qualified person who is appointed to give shareholders an…

Q: what information do we need for analytical procedure in auditing?

A:

Q: Auditors seek to understand a client's internal control in order to better serve their clients.

A: This question tells about Auditors seek to understand a client's internal control in order to better…

Q: What is ethics in auditing?

A: Ethics is the study of what is right or wrong in human conduct. This is a branch of Philosophy which…

Q: What must an auditor understand with respect to internal auditors?

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Q: Define Institute of Internal Auditors.

A: The Institute of Internal Auditors was established in 1941, the Institute of Internal Auditors…

Q: What is internal control? Why is an auditor interested in a client’s internal control?

A: Internal Control: Internal controls are the mechaniisms, rules, and procedures legally by an…

Q: Under what circumstances are external auditors likely to be involved in operational auditing? Can…

A: Introduction:- An operational audit is systematic review of effectiveness, efficiency of operation.…

Q: What type of audit report does a client typically want or hope for?

A: Audit report is the statement wherein the auditor gives its view on the financial statements of an…

Q: what does audit Evidence consist?

A:

Q: What is the internal auditor’s primary role in the conceptual design of the system?

A: Conceptual Design:   Conceptual design is that structure which provides various conceptual system…

Q: why is the Independence of the auditor the most important

A: An auditor is a person who is authorized to assess and verify the accuracy of financial papers, as…

Q: Discuss the theories to auditor independence

A: An auditor is someone who verifies the accuracy of a recorded transaction. The auditor must ensure…

Q: What are the requirements from Sarbanes-Oxley regarding using the same auditor

A: Audit is an independent examination of financial information of any entity, whether profit…

Q: Distinguish the role of internal and external auditor

A:

Q: Describe the role and responsibilities of auditor.

A: Auditor:The person who is considered responsible for assessing the credibility of the financial…

Q: Explain why many people think of internal auditors as theprimary group responsible for conducting…

A: Audit: Audit is the process of verification of the compliance of the financial statements. It…

Q: What are the basic audit procedures usually used by external auditors?

A: Note -Since you have posted multiple questions, we are providing the solution for the first…

Q: What does auditors examine?

A: Audit: Audit is the process of verification of the compliance of the financial statements.

Q: external auditors to utilize the work of internal auditors

A: External auditors are auditors appointed by the shareholders to report on the financial affairs of…