Paper F8 & P7: Using the work of internal auditors

This podcast focuses on the provision of direct assistance to external auditors by the internal auditors of an entity, which – to date – has been a very controversial issue. ISA 610, Using the Work of Internal Auditors, focuses on whether the external auditor can use the work of the internal audit function for purposes of audit, and the revised version of the standard, published in 2013, clarifies whether the internal auditors can be used to provide direct assistance to the external auditor. The material pertaining to direct assistance is effective for audits of financial statements for periods ended on or after 15 December 2014.