Statement on auditing standards, 065

              Statement on
Auditing Standards
Issued by the Auditing Standards Board
AICPA
American Institute of Certified Public Accountants
The Auditors Consideration of
the Internal Audit Function in
an Audit of Financial Statements
( Supersedes Statement on Auditing Standards No. 9, AICPA, Professional
Standards, vol. 1, AU sec. 322.)
1. The auditor considers many factors in determining the nature, tim­ing,
and extent of auditing procedures to be performed in an audit of an
entity's financial statements. One of the factors is the existence of an
internal audit function. 1 This Statement provides the auditor with guid­ance
on considering the work of internal auditors and on using internal
auditors to provide direct assistance to the auditor in an audit performed
in accordance with generally accepted auditing standards.
Roles of the Auditor and the Internal Auditors
2. One of the auditors responsibilities in an audit conducted in accor­dance
with generally accepted auditing standards is to obtain sufficient
1An internal audit function may consist of one or more individuals who perform internal
auditing activities within an entity. This Statement is not applicable to personnel who
have the title internal auditor but who do not perform internal auditing activities as
described herein.
Copyright © 1991 by the
American Institute of Certified Public Accountants, Inc.
1211 Avenue of the Americas, New York, N. Y. 10036- 8775
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