The internal audit function for a large organization has commenced this year’s scheduled accounts payable...

External auditors may rely on internal audit’s work if they evaluate the objectivity, competence, and quality of the internal audit function. If satisfied, they may use internal audit work to support their opinion, reducing duplication.

Option A is incorrect because external auditors do not manage internal audit. Option B is too restrictive, as reliance is allowed under auditing standards. Option D is false because internal audit can share relevant work with external auditors.