OUTSOURCING INTERNAL AUDIT SERVICES: A REVIEW

In the corporate world the internal audit function of an organization is established and used to provide an unbiased and objective review on the organizations processes and activities. When organizations consider that their internal audit services are either costly or are inefficient they prefer to outsource. An organization might want to outsource their internal audit function to an outsourced service providing to acquire better services from the function. They might outsource it because they want to have a better quality of the audit or they are unable to run the function in-house. When an organization will outsource its internal audit function, they will have an impact affecting their processes and activities either in a constructive or else in a destructive way. However, this is not the end there are several other motives for which the organizations may wish to outsource internal audit services. The study is an attempt to highlight and reveal the motives of the organizations behind outsourcing their internal audit services according to the existing literature. The findings highlighted those areas which are not very common, hence findings of the study open the horizons for future research to analyze empirically