What is the difference between an internal and an external audit?

Answer by  dhuoda (1431)

An internal audit is carried out by the company itself. An external audit is done by experts coming in from another organisatin. Maybe they wanted to prepare in advance?

Answer by  Cecilia (2828)

An audit is a method of checking the bookkeeping process. Your internal audit was likely performed by someone within the company. An external audit is performed by an outside, unbiased CPA firm following standard procedures with the intent of offering an opinion on the condition of the accounting systems.