What are the similarities and differences between internal and external audits?

Auditing and Assurance Revision Questions and Answers

Similarities between internal and external audits

 Both functions require the auditors to adhere to the international standards on auditing.
 Both are carried out competent auditors
 Both are interested in evaluating and testing the effective operations of the internal control system
 Both functions give recommendations to management on ways of improving the internal control system. The external auditor achieves this through the management letter, which is addressed to management.

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