What is Difference between internal and external audit in Dubai?
|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.
|It is conducted by employees of the company.
|It is conducted by external auditors.
|This auditor is appointed by management.
|This auditor appointed by members of the company.
|The auditor should not be CPAs or CAs.
|This auditor has to be CPAs or CAs.
|The report of Internal audit in Dubai is used by the management.
|The report of external audit is used by stakeholders.
|There is no specific format for this report.
|There is fixed specific format for this report.
|The scope of internal Audit is decided by the management.
|The scope of external audit is decided by statue.
|It is a continuous process.
|It is conducted once in a year.
|It checks operational efficiency of the company.
|It checks the true and fair workings of the company.
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