02-09-2011, 09:33 PM
Internal audit works for and on behalf of the organization whereas the external auditor is technically employed by and works for a third party, the shareholders.
But both of them seek active co-operation between the two functions. Also they carry out testing routines and this may involve examining and analyzing many transactions.
But both of them seek active co-operation between the two functions. Also they carry out testing routines and this may involve examining and analyzing many transactions.
