Research into the Internal Audit Function was conducted in an effort to determine whether the work of this function is useful and effective in an External Audit Engagement. Expert information from relevant professional resources and regulatory agencies was reviewed to obtain viewpoints on whether or not using the Internal Audit Function is a benefit or a risk. What was found was that there are many valid arguments to both sides of the question. Improvements need to be made on the part of the Internal Audit Function; however, the overall benefits of utilizing this function in External Audits outweigh the risks when vetted appropriately.