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what is internal and external auditing ?


Prasannjit das 9th Oct, 2019
Answer (1)
iammohdshareef 10th Oct, 2019
Hello dear,
.
  • Internal auditors are independent, objective assurance and consulting activity designed to improve organisation.
  • External auditors should with specific with laws and rules for financial statements of organisations.
.
  • Internal auditors examine issues related to company business practices and Risk's.
  • External auditors examine the financial records and issues/opinions regarding financial statements.
.
  • Internal Audits are conducted throughout the year
  • external Audits are conducted a single annual audit
.
  • internal audits are company employees
  • External Audits work for outside Audits
.
  • Internal auditors are hired by company
  • external Audits are hired by share holders
.
In simple internal auditors are working for building company reputations and external auditors work to maintain a company reputation without having any external problems of financial issues.
.
hope I was relevant and cleared your question.
thank you

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