The basic difference between an internal audit and an external audit is that an internal audit is conducted internally, by employees of the company or organization, whereas an external audit is conducted by...

A tax audit is conducted to ensure that the financial statements of a person or an organization are in order. This may be done on the behalf of the person or company, or it may be a requirement. A statutory...

Audits are primarily classified into Internal and Statutory Audit. For conducting, internal audit, internal auditor is appointed by the management of the company, whereas for conducting statutory audit,...