155 Views

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

Related Questions

UPES Dehradun | B.Com Admissi...
Apply
#41 in NIRF | Highest Package 1.3 CR, Ranked #1 in Academic Reputation in India by QS World University Rankings | Last Date to Apply: 28th April
Shoolini University Admission...
Apply
NAAC A+ Grade | Ranked No.1 Private University in India (QS World University Rankings 2025) | 5000+ Placements
University of Southampton Del...
Apply
MSc Finance and MSc International Management Admissions 2025 Now Open | Ranked Among the Top 100 Universities in the World by QS World University R...
Amity University, Noida B.Com...
Apply
Ranked as India’s #1 Not for profit pvt. University by India Today
Sanskaram University M.com ad...
Apply
100+ Industry collaborations | 10+ Years of legacy
Chandigarh University Admissi...
Apply
Ranked #1 Among all Private Indian Universities in QS Asia Rankings 2025 | Scholarships worth 210 CR
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books