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Microlesson · 5-min read

Overview, Objectives and Evaluating the Internal Audit Function

# SA 610: Using the Work of Internal Auditors

## What is the Internal Audit Function?

The internal audit function is an entity's own function that performs:

  • Assurance activities — evaluating governance, risk management and internal controls
  • Consulting activities — improving the effectiveness of these processes

### Common Internal Audit Activities

ActivityPurpose
Evaluation of Internal ControlsAssess design and operating effectiveness
Examination of financial/operating informationReview accuracy and completeness
Review of operating activitiesAssess efficiency and effectiveness
Compliance reviewCheck adherence to laws and regulations

## What SA 610 Covers

SA 610 governs the external auditor's (EA's) responsibilities when deciding to use internal auditors in two ways:

ModeWhat it Means
Using the work of the IA functionEA relies on outputs/findings already produced by internal audit
Direct AssistanceEA uses internal auditors to perform specific procedures under EA's direction

> Key Principle: The external auditor has sole and exclusive responsibility for the audit opinion. This responsibility is NOT reduced by using IA work or direct assistance.

## Objectives of the External Auditor

1. Determine usability — Can IA work be used / direct assistance taken? If so, in what areas and to what extent?

2. Assess adequacy — If using IA work, is it adequate for audit purposes?

3. Supervise properly — If using direct assistance, appropriately direct, supervise and review the internal auditors' work.

## How to Evaluate the Internal Audit Function

Before using IA work, the EA must assess the function on three dimensions:

### 1. Objectivity

The ability to perform tasks without bias, conflict of interest, or undue influence overriding professional judgement.

  • Key factor: Does the IA function report to the Board/Audit Committee (high objectivity) or to operational management (lower objectivity)?

### 2. Level of Competence

The attainment and maintenance of knowledge and skills of the IA function as a whole — qualifications, training, and professional development.

### 3. Systematic and Disciplined Approach

Application of structured, documented methods for planning, performing, supervising, reviewing and documenting IA activities, including quality control.

> This distinguishes the IA function from informal monitoring activities performed by the entity.

## When the EA CANNOT Use IA Work

The EA shall not use IA work if:

ConditionIssue
Inadequate objectivityOrganisational status or policies do not adequately support objectivity
Insufficient competenceThe function lacks necessary knowledge and skills
No systematic approachThe function does not apply a disciplined approach including quality control

## If the EA Plans to Use IA Work

The EA must:

1. Discuss planned use with IA to coordinate respective activities

2. Read IA reports and related findings

3. Perform sufficient audit procedures on the body of IA work to confirm its adequacy

Worked example

### Example 1

Objectivity Failure: The IA function of Omega Ltd reports directly to the CFO, who is responsible for the financial statements. The EA determines this organisational structure does not adequately support objectivity (IA cannot independently critique the CFO's work). The EA cannot use IA work and must conduct all procedures independently.

### Example 2

Competence Check: The EA reviews IA staff qualifications and finds no professionally qualified members and no training in updated accounting standards for three years. Concluding insufficient competence, the EA decides not to rely on IA work.

### Example 3

Systematic Approach Absent: The EA reviews IA working papers and finds no structured audit programs, no supervisory review sign-offs, and no quality control procedures. Determining the function lacks a systematic approach, the EA cannot use the work.

⚠️ Common exam mistakes

  • Evaluating only objectivity and overlooking competence and systematic approach — SA 610 requires assessment of all three dimensions before relying on IA work.
  • Assuming a large, well-known IA department can be relied on without performing the three-dimension evaluation — SA 610 requires a fresh assessment on every engagement.
  • Thinking the EA can use IA work unconditionally after the evaluation — the EA must still read IA reports and perform audit procedures on the body of IA work to confirm adequacy.
  • Confusing 'using the work of the IA function' (relying on existing IA outputs) with 'direct assistance' (instructing internal auditors to perform new procedures under EA direction) — these are distinct modes with different requirements.
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