Using the internal audit department to coordinate regulatory examiners’ efforts is beneficial to the organization because internal auditors can:

(a) Influence the regulatory examiners’ interpretation of law to match corporate practice.

(b) Recommend changes in scope to limit bias by the regulatory examiners.

(c) Perform fieldwork for the regulatory examiners and thus reduce the amount of time regulatory examiners are on-site.

(d) Supply evidence of adequate compliance testing through internal audit workpapers and reports.