Pros and Cons of Outsourcing the Auditing Function?

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Forum 5 james dangarembizi Student (Other), Zimbabwe Pros and Cons of Outsourcing the Auditing Function? What are the advantages and disadvantages of outsourcing the internal audit function of an organization? X Welcome to the Audit Trails forum. The topic being discussed here is: "Pros and Cons of Outsourcing the Auditing Function?". Sign up now to gain access. It's easy and 100% free. Log in   Comments Rating   2 Pamela Patterson Business Consultant, United States   Advantages and Disadvantages of Outsourcing Internal Audit Pros: - May be less costly - External firm has experts Cons - Internal employees have more knowledge of your business - Employees may be more open to internal auditors than external - Incremental/ add-ons may erode cost benefit - Process experts/knowledge is not within the business - Non-disclosure/ ip issues need to be considered Might consider a rotational program where internal employees rotate into internal audit for a period of time at the expense of the business in order to develop people.   Leave a comment Share your knowledge or experience

More on Audit Trails: Summary Discussion Topics Developing an Overall Audit Plan 👀 Pros and Cons of Outsourcing the Auditing Function? Topics for Overall Audit Plan Interim Versus Final Audit? 🔥 Internal Audit Report to my Manager Special Interest Group Do you know a lot about Audit Trails? Become our SIG Leader

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