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What are the benefits and drawbacks of an internal auditor

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Question - An internal audit function has agreed to conduct an advisory consulting engagement related to evaluating the efficiency of a process. During this engagement, an internal auditor identifies a control weakness that could be material to the company. Since a consulting engagement is between two parties-the customer and the auditor-is there any obligation to disclose this weakness to senior management and the audit committee? What are the benefits and drawbacks of an internal auditor communicating such a weakness?

Reference no: EM132598230

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