internal audit, external audits
Welcome  Laws  Benefits Services Non-financial External vs. Internal Opportunities Software  Links 

Difference Between External Audits & and Internal Audit

External audits

  • Conducted by third-party auditors who are Chartered or Certified Accountants.
  • Statutory requirement for certain organisations.
  • Provides an assessment of the accuracy and reliability of a company’s financial statements.

Internal audits

  • Conducted by employees of the organisation, usually an internal auditing department.
  • Main focus on operations and systems, not financial records and accountancy.
  • Legal requirement in a few special circumstances (Health Authorities, Universities, National and Local Government).
  • Objective is to achieve Value-For-Money through efficiency, economy, and effectiveness.


    site map  |  Arollo  |  Copyright © Explore Auditing. All rights reserved. Back to top