Fellow auditors, when you set your audit plan for the year, have you included in your audit schedule those bank functions that are outsourced?
If so, to what extent have you audited these functions -- objectives, scope, procedures, etc.?
Specifically in my case, our federal income tax management is outsourced and the overall income tax function came up relatively risky and auditable.
Any specifics on what you're doing would be appreciated...
Steve