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Internal audit and external audit?
An Internal Audit department generally focuses on operational and compliance risks within an organization while an external audit focuses on the accuracy of the financial information presented.
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What is audit and the purpose of audit?
Audit is an evaluation of a certain thing or individual. This is to determine about the situation of the inventories, expenses and also to determine the check and balances.
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What is Internal audit an external audit?
Internal audit is conducted by people from within the company. This is also known as first party audit. External audit is conducted by an independent party. Second or third party audits are external...
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What is an audit?
An audit in general is the process of verifying the accuracy of information.
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Audit risk assessment and audit plan?
An audit is considered a risk assessment, therefore these terms are interchangeable.And audit plan can have various meanings, some consider this to be an annual audit plan which includes all the...