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- The main objective of the external auditor is to serve the company's shareholders by never opinion about the safety of the preparation of lists of financial reports prepared by the company and it is present fairly in all material respects and does not have any errors or fraud within the sample examination to complete the review process for those lists either internal auditor main objective of his is to ensure the safety of the company's accounting system and the accuracy of the data extracted, as well as his leading role in preventing errors or fraud on the policies and rules and regulations adopted for the work of the company. - The work of the external auditor independent professional person certified by the competent authorities to take action and monitor the accounts audited and are appointed by the shareholders at the AGM of the company either internal auditor working for the company and is appointed by the executive management of the company. - From where to enjoy autonomy in the work is the external auditor independent in the performance of work for the management of the company and take the examination process for menus and evaluate the work and opinion after the completion of the screening process, either internal auditor has the independence limited for some departments, such as financial management, cost management and production management and marketing department does not enjoy thus independence with the executive management of the company. - External Auditor is responsible to the shareholders for the masses of what is contained in the report prepared for the audit and examination of the financial statements either internal auditor shall be deemed to be responsible to the senior management only and displays the results of the examination and study and draw avoid deficiencies.
both are necessary for company
regarding internal auditor is responsible of financial transactions to be assure that all transactions are accurately made
external auditor is responsible of making reports and opinions about financial position of the company
definitely both are necessary to a company but external auditor is mandatory to notarize and proving accuracy of financial statements.
Internal Auditors More Because Internal Audit Will Be Following Routinely Internal Controls.
And External Auditor Are Hired Seasonally.
The necessity of external auditor depends on the regulations of the region where that company operates or where his parent company operates and because of consolidation that company too have to have an audit irrespective of legal regulations and requirements.
The need of Internal auditors very much depends on the size, and complexity of the organizations activities. The banks, financial institutions and big FMCGs often need to appoint internal auditors due to the complexity and nature of their product and operations
Both are assurance providers and can leverage experiences to better benefit clients.
Well done Professor / Hani
I am agree with Mr.Hani
I agree with Professor answer / Hani
External auditor is more important than internal auditor
External auditor is third party no related to company
But internal auditor is part of company will try to show good pic on comoany
Both are required, the internal auditors for the internal control and auditing for the purposes of the company and external auditors the officially ratify the financial statements of the company and to declare thet are fairly present the financial situation of the company which make a good image of the company in front of the external parties.