Factsheet - Coordination and Reliance

Factsheet

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Author

IIA-Australia

Date

2025

Topics Explored

Internal Audit, Internal Audit Management, Assurance and Intergrated Assurance

Format

Factsheet

Extract/Description

Internal audit may not need to provide assurance services over business activities where reliance can be confirmed for assurance activities already in place and operating effectively in Line 1 or Line 2. What internal audit may do in those situations is to confirm effective assurance is operating, rather than auditing the business activity itself.

Key Points

1. Internal audit will meet with other assurance providers from time-to-time, and especially when the internal audit plan is being developed each year.

2. For reliance, is there sufficient evidence the assurance provider’s work can be relied upon? Will there need to be re-testing performed?

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

Yes