while thinking talking about Internal Audit and External Audit people often intermix with each other the best way to know about them and the difference of them is the following table.
I am sure using this table you will never misunderstand Internal Audit VS External Audit.
| Internal Auditor | External Auditor |
Objective | To add value | Enable to express the opinion on financial statement |
Reporting to | Board of Directors + Audit Committee | Share holders |
Scope | Every operation of Org. | To check financial statement |
Relationship with | Employee, but new concept is out sourcing | Independent from company appointed by shareholders |
well this was my work about Internal Audit VS External Audit.. hope you will like this.