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Employee internal auditor and external internal auditor -which function will be more effective?

Accounting Auditing Audit Committee Internal Audit
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Question added by mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice
Date Posted: 2014/05/08
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Subhranshu Ganguly
by Subhranshu Ganguly , Quality Analyst. , WIPRO

  • External internal auditor in the form of a CA firm is always advisable and sometimes a Govt manadate.
  • This is because an internal emploee auditor can have a collusion with accountants and may ignore window dressing aspects.
  • Aspects like overvaluing and undervaluing of assets can only be found out by an external auditor.
  • It gives more credibility to the firm in the eyes of CREDITORS AND GOVT and even prospective investors.

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