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CS Professional · Internal and Forensic Audit · Reporting under Internal Audit

Before Anand Steels' external auditor relies on the internal audit function's work, they discuss coordination. According to SA 610 (Revised), which of the following is a matter that may usefully be addressed in that discussion?

Review and reporting procedures are among the matters SA 610 (Revised) says may usefully be discussed when coordinating with the internal audit function, alongside timing, nature, extent of coverage, materiality, sample selection and documentation. The external auditor retains sole responsibility for the audit opinion.

  1. AReview and reporting procedures for the work performedCorrect
  2. BThe remuneration of internal audit staff
  3. CThe internal auditor's personal views on the audit opinion
  4. DTransfer of responsibility for the audit opinion to the internal auditor

Explanation

The listed matters for discussion include timing, nature, extent of coverage, materiality, item selection and sample sizes, documentation, and review and reporting procedures. Staff pay is not listed, and the external auditor keeps sole responsibility for the opinion.

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