Due to the current state of the Internal Audit department of the Council, the Minister responsible for Local Government believes that outsourcing its functions instead of maintaining an IA department would yield better results and save on overhead. The lead consultant of your firm asked you to identify and explain three (3) advantages and two (2) disadvantages of outsourcing the internal audit function. Provide an alternative that may be consider ensuring greater efficiency of the internal audit function. Give two (2) advantage and (2) disadvantage that this alternative may provide.
Due to the current state of the Internal Audit department of the Council, the Minister responsible for Local Government believes that outsourcing its functions instead of maintaining an IA department would yield better results and save on overhead. The lead consultant of your firm asked you to identify and explain three (3) advantages and two (2) disadvantages of outsourcing the internal audit function. Provide an alternative that may be consider ensuring greater efficiency of the internal audit function. Give two (2) advantage and (2) disadvantage that this alternative may provide.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Due to the current state of the Internal Audit department of the Council, the Minister
responsible for Local Government believes that outsourcing its functions instead of
maintaining an IA department would yield better results and save on overhead. The lead
consultant of your firm asked you to identify and explain three (3) advantages and two (2)
disadvantages of outsourcing the internal audit function. Provide an alternative that may
be consider ensuring greater efficiency of the internal audit function. Give two (2)
advantage and (2) disadvantage that this alternative may provide.
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