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I used to be in a 3 person (incl CAE) shop and we only did operational audits..with some minimal assistance to test controls…there was another individual who was full time SOX. We did 10-12 audits/reviews a year with varying scopes..However- this was very in line with what the AFC was looking for out of our department
It entirely depends on how much Sox testing there is and what they prioritize. I worked in a IA department and we usually postponed a lot of planned operational audits because the Sox testing had to be done we there wasn’t enough time to do both
Another thing that happened to us is situations where management demands reduction in fees from external auditors which usually increases the level of reliance / direct assist work which can add time to IA departments.
Not to say it’s like this everywhere. While in PA I’ve seen a lot of small IA groups prioritize operational audits and co source with firms to supplement some of the SOX testing.