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External financial statements are prepared on the assumption that the company is a going concern—the company will continue to operate indefinitely. Based on this assumption, assets...
Management is responsible for designing and implementing controls to prevent, deter and detect fraud. AU 110.03 (Responsibilities and Functions of the Internal Auditor) states Management is...
Here is a clearly differences and similarities “Internal Auditor” versus “External Auditor” sorted out: The Different Objectives The External Auditor: The external auditor seeks to...