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What is the difference between internal audit and Statutory(External ) Audit?

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Question ajoutée par venkaramanujam subramanian , Acccounts Manager , CHRONOLOGY M/s Subramanian Associates Practising Chartered Accountants
Date de publication: 2016/10/26
Fawaz Almisfer
par Fawaz Almisfer , Business Administrator , Siemens

Internal auditors will examine issues related to company business practices and risks

 

 while external auditors examine the financial records 

Abdul Mateen Siddiqui
par Abdul Mateen Siddiqui , Asst. Accounts Officer , Sami Construction and Steel Products Private Limited

An internal audit is continuous action of "Check regarding the compliance of Law, Rule and Code follow by the employee and decisions of entity made as per such law and rule" perform by the employee of entity itself who appointed only for Internal Auditing, where as External Audit work is same as Internal Audit but such action is perform by third party i.e. CA Firm and Other professional expert.

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