How do external auditors differ from internal auditors, Auditing

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How do external auditors differ from internal auditors

Response to the following questions:

1. Explain in your own words why separation of duties is often described as the corner-stone of internal control for safeguarding assets. Describe what can happen if the same person has custody of an asset and also accounts for the asset.

2. How do external auditors differ from internal auditors? How does an external audit differ from an internal audit? How are the two types of audits similar?

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