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What is the different between internal audit report & external audit report ? And what is the responsiblity of internal auditors ?
Thanks
Kind Regards
ChristineThere is no such thing as a standard internal audit report. Internal auditors’ responsibilities are set by management, but usually they look carefully at the design and operation of the company’s internal control system. They can also be involved in special investigations eg into an occurrence o fraud
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hey christine, an internal audit report is prepared by internal auditors and their is no standard that states how they should be prepared as they are for internal use by management,
an external audit on the other hand is prepared for the shareholders. it has to be prepared in accordance with the IAAS to ensure that they easily understand it.
hope that helps
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