Business, Management and Accounting
4 years ago

External auditors rely on internal audit work, impacting banks' financial integrity.

Economics and Management
THE RELIANCE OF EXTERNAL AUDITORS ON THE WORK PERFORMED BY INTERNAL AUDITORS AND ITS IMPACT ON AUDIT ON BANKS: A CASE OF THE FIRST ABU DHABI BANK, UAE
Madher E. Hamdallah

Paper Summary

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The study looked at how external auditors rely on the work of internal auditors at First Abu Dhabi Bank in UAE. They found that external auditors mainly depend on the work done by internal auditors, especially in areas like internal controls and auditing fixed assets. The collaboration between internal and external auditors is not very common in developing countries like the UAE. The research showed that external auditors do not rely on internal auditors' inputs directly, but on the work they have done.