ABSTRACT
Procedures for testing externally both internal and external audit. The Code recommends considering the market testing of external audit every seven years and also recommends that the lead partner on the audit should not hold that position for more than seven years on a continuous basis. It also recommends that consideration should be given every seven years to market testing the internal audit service and also states that at least every five years the HEFCE audit service (HEFCEAS) will review the audit services in place at an HEI by an assessment based on a professional peer review (HEFCEAS since renamed HEFCE Assurance Service).
