Week 6 - Relying on the Work of IA

Question 1

Having established its independence, what are the first 3 things to consider regarding the planned IA work?

Answer 1

• when is it to be undertaken?
• the scope of the work
• approach to audit risk

Question 2

Having established its independence, what are the next 3 things to consider regarding the planned IA work?

Answer 2

• use of sampling techniques, materiality levels (if at all) and key judgements
• how good is the corroboratory evidence
• how will the work be documented

Question 3

Having established its independence, what are the final 3 things to consider regarding the planned IA work?

Answer 3

• how will the work be supervised and reviewed
• how are any outstanding issues resolved
• reports produced, how recommendations are made