Internal Audit vs External Audit

>> YOUR LINK HERE: ___ http://youtube.com/watch?v=P1VVzshSSig

This video discusses the difference between an internal auditor and an external auditor. The external auditor is not an employee of the company and is engaged to provide an opinion as to whether the company's financial statements are free of material misstatements. For audits of publicly-traded companies, the external auditor must also report whether the company's internal controls have any material weaknesses. • Internal auditors, on the other hands, may be employees of the firm being audited and have a role that closely resembles that of a consultant. Internal auditors assess the company's risk, identify areas of improvement, and advise management. Internal auditors also examine the company's internal controls by ensuring that the company is complying with all laws and regulations, that operations are efficient and cost effective, that the financial reporting process is working as it should, and that fraud is not being committed by the company's employees.— • Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education accessible to all people. • — • SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING • • A 44-PAGE GUIDE TO U.S. TAXATION • • A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS • • MANY MORE FREE PDF GUIDES • http://eepurl.com/dIaa5z • — • GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT • https://edspira.thinkific.com • — • LISTEN TO THE SCHEME PODCAST • Apple Podcasts: https://podcasts.apple.com/us/podcast... • Spotify: https://open.spotify.com/show/4WaNTqV... • Website: https://www.edspira.com/podcast-2/ • — • GET TAX TIPS ON TIKTOK • / prof_mclaughlin • — • ACCESS INDEX OF VIDEOS • https://www.edspira.com/index • — • CONNECT WITH EDSPIRA • Facebook: / edspira • Instagram: / edspiradotcom • LinkedIn: / edspira • — • CONNECT WITH MICHAEL • Twitter: / prof_mclaughlin • LinkedIn: / prof-michael-mclaughlin • — • ABOUT EDSPIRA AND ITS CREATOR • https://www.edspira.com/about/

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