• Consulting rules understood by management
• Consulting activity adds value
• Enhance understanding of business
• Management decides recommendations to implement
• Not intended to prevent information from being presented to management & board
• Retain right to set audit techniques to use
• Perform per Standards & Code of Ethics

Disclose potential impairments to independence or objectivity (Standard 1130.C2)

Need required knowledge, skills or other competencies (Standard 1210.C1)

Consider: (Standard 1220.C1)

• Needs and expectations of client
• Complexity and extent of work
• Costs vs. potential benefits
• Possibility of improving management of risks, adding value, improving operations (Standard 2010.C1)

Include consulting engagements accepted in audit plan (Standard 2010.C1)

Client to understand objectives, scope, respective responsibilities, client expectations (Standard 2201.C1)

Document engagement understanding (Standard 2201.C1)

Objectives to address risks, controls and governance processes (Standard 2210.C1)

Engagement scope sufficient to accomplish objectives (Standard 2220.C1)

Report will vary depending upon nature of engagement and client needs (Standard 2410.C1)

Report significant issues to senior management and board (Standard 2440.C2)

Monitor disposition of results as agreed upon with client (Standard 2500.C1)