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COPYRIGHT

© Commonwealth of Australia 2006. The text, graphics and layout of this Auditing Standard are protected by Australian copyright law and the comparable law of other countries. Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source. Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to the Principal Executive, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne Victoria 8007. Otherwise, no part of the Auditing Standard may be reproduced, stored or transmitted in any form or by any means without the prior written permission of the AUASB except as permitted by law.

ISSN 1833-4393

CONTENTS

PREFACE

AUTHORITY STATEMENT

Paragraphs

Application.................................. 1-2

Operative Date................................ 3

Introduction.................................. 4-7

Scope and Objectives of Internal Audit................ 8

Relationship Between Internal Audit and the External Auditor. 9-11

Understanding and Preliminary Assessment of Internal Audit. 12-17

Timing of Liaison and Coordination.................. 18-19

Evaluating the Work of Internal Audit................ 20-23

Conformity with International Standards on Auditing...... 24

Appendix 1: Internal Audit – Understanding and Preliminary Assessment Questionnaire

Preface

Reasons for Issuing Auditing Standard ASA 610 Considering the Work of Internal Audit

The Auditing and Assurance Standards Board (AUASB) issues Auditing Standard ASA 610 Considering the Work of Internal Audit due to the requirements of the legislative provisions explained below.