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Hi sir, as for the advantages of outsourcing the internal audit function, in june 2014 exam paper, question 4(a) in the answer key
States that the company will have full flexibility in its internal audit service.
But the answer key in my exam kit, for one particular question, states ” by outsourcing, flexibility is reduced as the internal auditor is not an employee and cannot be controlled in the same way ”
I’m confused sir. So which is correct ? Could you explain ?
I would stick with the ACCA version. I think flexibility is increased because the outsource company will be able to draft in lots of specialised resources to, for example, quickly investigate a fraud. If employed internally, the IA department will be limited by the number of employees and employee skills.
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