Beyond Reliance: Internal Auditors’ Perceptions of Their Relationships with External Auditors

SUMMARY Based on a survey of 67 internal audit professionals, we examine the interactions between internal and external auditors and the experience internal auditors have working with external auditors. Specifically, we investigate perceptions of collaboration, interaction, contribution, and confidence with respect to internal-external auditor relationships. In general, we find a positive relationship between internal and external auditors. However, our results suggest that internal auditors see a lot of room for growth in the internal-external audit relationship and are looking for more opportunities to collaborate with external auditors. We discuss implications for both internal and external auditors in practice. JEL Classifications: M42.