Question: a) According to the IIA the Internal auditor should develop and record a plan for each engagement, including the scope , objectives, timing and resource

a) According to the IIA the Internal auditor should develop and record a plan for each engagement, including the scope , objectives, timing and resource allocation." The same can be said about the EA (external auditor). Compare and contrast engagement planning for the IA and EA. How does the control environment relate to engagement planning? Also what role does SOX have on the control environment and audit planning?

b) Do you think internal auditors can ever be truly independent, since they are employed by the company?

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