Week 7 Assignment: Reporting Material Weaknesses Blending assurance and consulting services into a single engagement is evolving as a way for internal auditors to realize efficiencies that might not exist when these services are performed separately. In fact, some internal audit functions may be conducting blended engagements without even realizing it. Internal auditors can follow a principle-based model that offers professional guidance for implementing this approach without violating existing standards of practice.

1. Perform research and identify the primary purpose of an assurance engagement and a consulting engagement. Also, identify elements that are the same or similar. Finally, identify the concerns with combining assurance and consulting services and how a single blended engagement can be performed without jeopardizing audit effectiveness or objectivity.

2. Submit a brief write-up indicating the results of your research to your instructor.