n assessing whether the internal audit function applies a systematic and disciplined$$ approach, the independent auditor most likely would consider the

$1.$

internal$$ auditor's assessment of inherent risk and whether it is comparable to the independent$$ auditor's assessment.

$2.$

organizational status of the director of internal audit.

$3.$

$$entity$\text{'}$s ability to continue as a going concern for a reasonable period of time.

$4.$

adequacy and use of documented internal audit procedures.