What is Difference between internal and external audit in Dubai?
|Point No||Internal Audit||External Audit|
|1.||Internal Audit refers to an ongoing audit function performed within an organization by a separate internal auditing department.||External Audit is an audit function performed by the independent body which is not a part of the organization.|
|2.||It is conducted by employees of the company.||It is conducted by external auditors.|
|3.||This auditor is appointed by management.||This auditor appointed by members of the company.|
|4.||The auditor should not be CPAs or CAs.||This auditor has to be CPAs or CAs.|
|5.||The report of Internal audit in Dubai is used by the management.||The report of external audit is used by stakeholders.|
|6.||There is no specific format for this report.||There is fixed specific format for this report.|
|7.||The scope of internal Audit is decided by the management.||The scope of external audit is decided by statue.|
|8.||It is a continuous process.||It is conducted once in a year.|
|9.||It checks operational efficiency of the company.||It checks the true and fair workings of the company.|
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