Sale Auditor Interview Question:

are the different advantages and disadvantages of internal audit?

Submitted by: Muhammad

Advantages of Internal Audit are following:
☛ It is in-expensive.
☛ No charted accounted is required to audit internally.
☛ Errors will be removed before preparing financial statements.
☛ There will not be any type of embarrassment in the society because errors have been removed.
☛ Accounting staff will remain in pressure so record will remain update every time in the organization.
☛ Disadvantages are following:
☛ Internal audit is not acceptable by the shareholder.
☛ There can be errors in internal audit because he is not an auditor.
☛ And there are some more
Submitted by: Muhammad