Abstract
Objective: Study the role of co-sourcing internal audit services in achieving the quality of external audit with conducting an applied study to examine the opinions of (the external auditor - the internal auditor - the financial director - as well as faculty members who have experience in reading the financial statements) on the subject of co-sourcing and its role in achieving external audit quality.
Design and Methodology: The researcher resorted to designing a survey form for a sample of different categories that are related to preparing, reviewing and publishing financial statements and reports (internal auditor, financial manager, external auditor, faculty members who have experience reading financial statements) in order to examine the role of co-sourcing internal audit services in achieving The quality of the external audit.
Results and Recommendations: The results of this research indicate that there is a significant effect of co-sourcing of the internal audit on the quality of the work of the internal auditor, and there is a significant effect of co-sourcing on the quality of the external audit, and there is also agreement between the subjects of the study sample on the importance of the axes of the proposed framework for developing the performance of the parties of co-sourcing and its role in improving the quality of the external audit.
Based on this, the study recommends the need to look to the future in the internal audit function, as this is better than merely looking at how it was performed in the past, which calls for a change in the elements of the internal audit activity, including the use of the performance of part of the internal audit services from abroad, which is co-sourcing , which gives better products and processes and adds value to the various establishments, as well as applying the proposed framework in practice, through:
Developing the performance of the parties to co-sourcing internal audit services, namely: the external source, the internal source, the governance of the internal audit department.
Studying the reflection of the performance development of the joint attribution parties on the quality of the external audit.
Originality and contribution: This study contributes to the accounting literature by studying and analyzing the role of co-sourcing internal audit services in achieving the quality of external audit, while presenting a proposed framework for developing the performance of co-sourcing parties and its reflection on the quality of external audit.
Keywords: Total out-Sourcing , co-sourcing , components and elements of external audit.
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