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Important and very confusing question

Forums › ACCA Forums › ACCA BT Business and Technology Forums › Important and very confusing question

  • This topic has 3 replies, 2 voices, and was last updated 1 week ago by mrjonbain.
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    Posts
  • July 9, 2025 at 9:32 am #718200
    Zay1996Nab
    Participant
    • Topics: 9
    • Replies: 6
    • ☆

    Hello all,

    I am very confused concerning who internal and external auditors report to.

    Internal: CFO, Management, Board of directors, Audit committee?
    External: Shareholders, Audit committee, Board of directors?
    And an external auditor is appointed by who?
    Please help me understand this.

    Thank you.

    July 9, 2025 at 10:28 am #718205
    mrjonbain
    Moderator
    • Topics: 6
    • Replies: 2489
    • ☆☆☆☆☆

    Internal auditors report to the Audit committee. This is to ensure their independence. External auditors are generally appointed by the shareholders of the company.

    July 9, 2025 at 10:32 am #718206
    mrjonbain
    Moderator
    • Topics: 6
    • Replies: 2489
    • ☆☆☆☆☆

    Correction to the above statement. The board of directors often appoint the auditor and this is confirmed by a vote of the shareholders at a general meeting of the company.

    July 9, 2025 at 10:33 am #718207
    mrjonbain
    Moderator
    • Topics: 6
    • Replies: 2489
    • ☆☆☆☆☆

    The auditor report is addressed to the members (shareholders) of a company.

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