IIA-Australia Factsheet - Guest Auditors

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Author	IIA-Australia
Date	2022
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	A guest auditor program is designed to fill competency gaps for specific internal audit engagements. Many internal audit functions already seek technical expertise from service provider firms when there are no in-house internal auditors with the necessary skills and knowledge for technical audit topics. Though not a widespread practice, there are internal audit functions that use in-house guest auditors from other business units within their organisation.
Key Points	A guest auditor program can: Get specialist subject matter expertise into audits to add value to internal audit services. Help where audits have a technical component that would benefit from specific technical expertise. Enhance the internal audit function credibility and reputation The issue of independence needs to be carefully considered each time a guest auditor is selected.
Relevant Industries	All
Level of Assumed Knowledge	Intermediate