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outsourcing internal audit

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AA Exams › outsourcing internal audit

  • This topic has 1 reply, 2 voices, and was last updated 2 weeks ago by Kim Smith.
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  • May 13, 2023 at 9:17 am #684280
    JohnnySins
    Participant
    • Topics: 30
    • Replies: 16
    • ☆

    Sir can you kindly explain the disadvantage of outsourcing audit function is lack of control over quality of service.
    and the advantage is management time in administering an in house department will be reduced.

    May 13, 2023 at 9:54 am #684290
    Kim Smith
    Keymaster
    • Topics: 105
    • Replies: 7089
    • ☆☆☆☆☆

    If you do a task yourself (“in-house”), you are in control of the quality of the task performed.
    If you ask someone else to do the task for you (“outsource”), you cannot control its quality.

    If you are managing tasks of your employees (in-house), you will find that it take up valuable time (administration).

    If you outsource the tasks, it will be someone else who has to deal with the administration – saving your time.

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