The Perspectives of Outsourcing of Internal Audit Functions in Albania

Abstract

Outsourcing of the products and services to other companies is already a very used option that in general aims to have more qualified products or services with lower costs. As in the other sectors the professional auditors offer to outsource a company’s internal control services in order to increase their quality or to lower the internal auditing system costs. By outsourcing, a company can depute the auditing tasks that can be performed in a small amount of time and an internal audit structure can be too expensive to maintain. Through this study we evaluate an analytical overview of the internal auditing outsourcing by summarizing the factors that drive the company’s managers or stakeholders to partially or totally outsource the internal control auditing. The benefits from the usage of the internal auditing outsource can vary in different situation depending on the specifics of the economic unit. The aim of this study is to analyze the benefits of audit outsourcing and to evaluate the auditing outsourcing perspective in Albanian market. The methodology used in the preparation of this paper will be that of the utilizing the foreign and national literature, and the utilization of the interviews with the companies and auditors that have experience in auditing outsourcing in Albania.

DOI: 10.5901/ajis.2015.v4n3s1p395