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Audit Voices Try to Calm Tensions on Evidence

Tammy Whitehouse | March 17, 2015

Leaders of the auditing world are calling for a truce in the arguments between internal and external auditors over how much evidence external auditors should collect themselves while scrutinizing corporate finances and internal controls—and are calling on audit committees to intervene earlier as referees of those disputes.

That issue of how much external auditors can rely on the work of internal auditors was a running theme at the Institute of Internal Auditors’ national conference last week, prompting the IIA and the Center for Audit Quality to urge that corporate audit committees get more involved in planning how internal audit and external audit can cooperate and avoid unnecessary duplication of audit effort.

Chambers-Richard-0814“As often happens, when the regulator speaks, perhaps in some cases there can be an... To get the full story, subscribe now.