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

While planning to use the work of the internal audit function of Sundaram Foods Ltd., the external auditor meets the Chief Internal Auditor to coordinate. Which item is listed in SA 610 (Revised) as useful to discuss?

The proposed methods of item selection and sample sizes are listed in SA 610 (Revised) as a matter to discuss when coordinating with the internal audit function. Other listed items include timing, nature, extent of coverage, materiality, documentation, and review and reporting procedures.

  1. AThe remuneration of the internal audit staff
  2. BThe proposed methods of item selection and sample sizesCorrect
  3. CThe internal auditor's personal opinion on the external audit fee
  4. DThe external auditor's final audit opinion wording

Explanation

SA 610 (Revised) lists timing, nature of work, extent of coverage, materiality and performance materiality, proposed methods of item selection and sample sizes, documentation, and review and reporting procedures. Remuneration, audit fee views and opinion wording are not listed.

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