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What is differences between internal and external statutory audit?
Wiki User
∙ 14y ago
An Internal audit is performed by employees of your own company, usually by employees who are subject matter experts. Internal audit results are usually taken under consideration by management and improvements are made by the company in order to avoid an external audit finding which may result in the risk of citation or fine.
An external statutory audit would be performed by and auditor who is employed by the government (local, state, or federal). The external auditors findings are legal and binding and may lead to citations or fines or both.
Wiki User
∙ 14y ago
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What are two differences between an internal audit and an external audit?
1) An internal audit is an appraisal of activities within company areas, whereas an external audit looks at the financial statements as a whole 2) An internal report is normally given to managers, while an external report is prepared for shareholders, related companies, creditors, or government agencies.
Difference between internal and external audit?
An internal audit is done by the company itself. An external audit is done by auditors not under the influence of the company being audited.
What is the difference between statutory and non statutory audits?
what is the difference between statutory audit and non statutory audit.
Distinguish between Internal External audit?
An internal audit is when someone within your company checks over your books. An external audit is when someone outside of your company checks your books; like the IRS.
What is the difference between an internal tax and an external tax?
An internal tax is a tax that is put on goods that are within the colony or nation. External tax is a tax on goods that are being shipped either in or out of the colony or nation.
What are the differences between internal data and external data?
AYO
What is the Differences between internal and external cost?
Internal costs are costs that a business bases its price on. External costs are costs that are not included in what the business bases its price on Nicodem
What are differences between internal fertilization and external fertilization?
eternal fertilizer is mostly use for tree while internal is for human being
What is the difference between Internal Styles and External Styles in Martial Arts?
There are many differences between external and internal marital arts. One difference is that external marital arts focuses on the physical abilities while internal martial arts focuses on the Chi energy of a person.
What are the relative advantages and disadvantages of internal CD burner and external CD burner?
An external drive will be a little slower because of the speed differences between SATA (internal) and USB (external). The obvious advantage to an external is changeability, ease of access, etc.
What is the difference between external and internal stimuli?
internal is in and external is out
What is Difference between internal and external indicators?
what is the difference between the external & internal indicator
What is the difference between external and internal communications?
What is the difference between external and internal communications
What is the difference between external and internal indicator?
what is the difference between the external & internal indicator
What are the differences between internal and external environment?
The differences between internal and external environment is: Internal environment involve within the organization, which are the employee attitudes,new equipment,strategy,work forces. The organization has the control of these matters because it happen within the organization unless like external environment. AND for the external environment,is clearly stated with the word external itself which means outside of the organizations which effect the changes in the organization which the organization does not have the control of it. External environment are involved by the PESTLE- Politic, Economy, Social, Technology, Legal and Environment.
What is the diffrewnt between a internal and a external?
internal = inside external=outside
What is the difference between internal and external reproduction?
its internal and then its external. DEERRR
