Why might an internal audit function bring in guest auditors and guest advisors? Do you support...

Why might an internal audit function bring in guest auditors and guest advisors? Do you support the idea of bring in guest auditors or guest advisors? Why or why not?

Expert Solution

A guest auditor or advisor is a person who is an expert in auditing or their field. A guest auditor may be necessary in times when the auditor needs some support or specialist know how, capacity problem issues or employees have to be trianed. A good guest auditor is selected by doing a thorough qualitative and quantitative analysis. Sometimes it is not just a specialist but the guest auditor may also be a new hire who might help in some clerical work. In short, guest auditor is decided absed on the nature of requirement of the internal audit team.

Yes, I Believe bringing a guest auditor is a good idea. There are several reasons for it :

a) knowledge transfer to internal audit team by a specialist and a person of better understanding

b) It taps into pool of readily available and keen on learning poeple.

c) Makes the internal audit procedure more approachable by employees.

d) Fresh new talent gives out of the box ideas.

ekkarill92 answered 1 year ago

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