Differentiation between External and Internal Audit
Elucidate the differentiation between External Audit and Internal Audit?
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The internal audit is conducted to aid the management. The weak point of the management is divulged. The external audit is conducted to aid the shareholder. The rights of owners are protected. The appointment of internal audit is completed by the management. The appointment in external audit is completed by the shareholders. Internal audit is the division of internal control.
External audit is the not the division of internal control. The internal audit can recommend improvement in internal check system. The external audit can’t recommend improvement in internal check system. The internal audit can carry out his duties under the terms of appointment. The management can limit the range of work at any time. The external auditor can carry out his work to terms of appointment and further prescribed law. The range is extremely broad. Internal audit is an employee of the company. He is not a sovereign person. External auditor is not a member of staff of the company.
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Hi would you be able to finish this assignment before sunday 11 pm My chosen company is NORFOLK GROUP PTY LTD
A signed letter from the auditor of a company, included in the annual report, that state whether or not the finan- cial statements fairly present the results of operations and the financial position of the company. An annual audit is required by the Exchange and Securities Commissi
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