You have been the in-charge on the audit of Crake Storm for the last two years and you have built up a good professional relationship with the Finance Director, Cynthia Plant. She has been very happy with the professionalism and efficiency with which you and your firm have carried out the external audit. Cynthia is currently conducting a review of the company's internal audit department and has asked for your thoughts on your firm carrying out this work.

Required 

Prepare notes for a meeting with Cynthia Plant which highlight the advantages and disadvantages of the external auditor conducting internal audit work.