Auditors do not have statutory legal obligations to report on internal control within the entity. Moreover, issues relating to internal controls brought to the attention of management by the auditor are almost never addressed, and are recycled through to the auditor’s report to management in the next financial period. It is fair therefore to say that tests of controls are an unnecessary burden on audit firms which should be abandoned from the audit programme.

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Internal audit executes a systematic and objective approach to examine the books of accounts statutory records documents and the current financial situation of an organization Internal auditing takes ... View the full answer