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The work of internal audit is distinct from the external audit which is carried out for the benefit of Shareholders only & examines published accounts.
Is it true / false ?please explain
I would say true. External auditors’ prime duty is to report to shareholders on whether or not the financial statements show a true and fair view.
Internal auditors report to management, typically on the operation of the company’s internal control systems.
I thought the above statement talking about internal audit , which is carried out for shareholders only & examine financial statement.
Does it explain the internal / external audit?please explain?
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