Analysis of professional standards and research findings to develop decision aids for reliance on internal auditing

This paper analyzes professional standards and research findings pertaining to external auditors’ reliance on internal auditing and develops decision aids for reliance. The paper obtains various characteristics relating to the evaluation of internal audit competence, objectivity, and work performed, as well as other non-internal audit factors that impact reliance. These characteristics and factors are integrated into decision aids for reliance on internal auditing.