External financial statement auditors must obtain evidence ...

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Question 1

External auditors would consider internal auditors effective if they
◦ are independent of the operating units being evaluated.
◦ are competent and well trained.
◦ apply a systematic and disciplined approach, including quality control.
◦ All of these.

Question 2

External financial statement auditors must obtain evidence regarding what attributes of an internal audit department if the external auditors intend to rely on the internal auditor's work?
◦

If they have performed relevant audit tests of the internal controls and financial statements	Competence
Yes	Yes

◦

If they have performed relevant audit tests of the internal controls and financial statements	Competence
No	No

◦

If they have performed relevant audit tests of the internal controls and financial statements	Competence
Yes	No

◦

If they have performed relevant audit tests of the internal controls and financial statements	Competence
No	Yes

[gwisel]

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[hgjjghgjh]

Wow, this really help

[tandmlomax84]

Thanks for the timely response, appreciate it