Internal audit is a function establish by management to assist in corporate governance by assessing internal controls and helping in risk management. It can be a department of employees or can be outsourced to expert service providers.
Internal auditing is different from external auditing, although the techniques used by both are very similar. While the technique used may be similar, the focus and reasons behind the audit are different.
Required:
Compare and Contrast the role of internal auditors and external auditors. (10 marks)
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