Using the work of others

600 series: Using the work of others

ISA 610 The Work of Internal Auditors

? Evaluating the internal audit function

ü Internal audit function's organizational status

ü The competence of the internal audit function

ü Whether applies a systematic and disciplined approach

ü Whether has quality control

? Evaluating the internal audit work

ü The work was properly planned, performed, supervised, reviewed and documented.

ü Sufficient appropriate evidence has been obtained.

ü The conclusions reached are appropriate.

ü The reports prepared are consistent with the work performed.

? Direct assistance

ü Cannot be provided where national law prohibits it

ü Must not use the internal auditor excessively

ü Management must agree not to intervene

ü Internal auditor must observe confidentiality

ü External auditor must not assign work which is:

q Significantly judgmental

q A high risk of material misstatement

q The internal auditor has been involved with

ISA 620 Using the Work of an Expert

? Evaluate competence, capability and objectivity

? Assess the expert's work:

ü The consistency of the findings with other evidence

ü The significant assumptions made

ü The use and accuracy of source data