Internal audit: How to develop professional skepticism

✍ Scribed by Nicole McCoy; Royce D. Burnett; Mark E. Friedman; Marc Morris

• Publisher: John Wiley and Sons
• Year: 2011
• Tongue: English
• Weight: 277 KB
• Volume: 22
• Category: Article
• ISSN: 1044-8136
• DOI: 10.1002/jcaf.20684

✦ Synopsis

Abstract

In these unpredictable economic times, how do you produce highly regarded financial statements in the face of demands to minimize external audit costs? Many companies try to solve this problem by using their internal audit department more during the annual external audit. But that can be tricky—because the internal audit staff is required to remain independent.

The solution, say the authors of this article, is to actively develop and maintain your internal auditors' professional skepticism. And the authors give you a detailed roadmap that shows how to do that. © 2011 Wiley Periodicals, Inc.