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4Outsourcing of Internal Auditing

4Outsourcing of Internal Auditing - Outsourcing of Internal...

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Outsourcing of Internal Audit
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Definition of outsourcing: 1 u Basic Theory of Outsourcing of Internal Audit organization entrusts part or all the functions of internal audit to exterior organization to execute by deed.
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Forms of outsourcing: u 1 u complementarity Enterprises carry out auditing projects by employing external intermediary agencies and professionals in the shortage of manpower and expertise. For example, enterprises engage auditors who understand local language or local customs when auditing branch. In addition, in particular fields (for example , electronic data processing system), enterprises can also employ the experts to participate in audit activities.
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u 2 u audit management consulting It is extension of existing consultation or audit business of certified accounting firms, including helping set up internal audit department, recruit internal auditors , define the main risks, etc, and promote the formation and improvement of the internal audit plan.
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u 3)The whole outsourcing (small enterprises ) Enterprises without setting up internal audit department outsource function of internal audit to the
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