Timing of Liaison and CoordinationTiming of Liaison and Coordination

Timing of Liaison and Coordination

18 When planning to use the work of internal audit, the external auditor will ordinarily need to consider internal audit’s tentative plan for the period and discuss it at as early a stage as possible. Where the work of internal audit is to be a factor in determining the nature, timing and extent of the external auditor’s procedures, it is desirable to agree in advance the timing of such work, the extent of audit coverage, materiality levels and proposed methods of sample selection, documentation of the work performed and review and reporting procedures.

19 Liaison with internal audit is more effective when meetings are held at appropriate intervals during the period. The external auditor would ordinarily be advised of and have access to relevant internal audit reports and be kept informed of any significant matter that comes to the internal auditor’s attention which may affect the work of the external auditor. Similarly, the external auditor would ordinarily inform the internal auditor of any significant matters which may affect internal audit.