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Types of audits
As far we have tended to think in state of the audit of limited companies, and certainly, the emphasis during this text will be on that companies incorporated below the Companies Act 1962, not least since this category of audit situation is at the heart of the wide majority of auditing examination questions. Conversely it may be convenient at this level to briefly indicate the major classes of audit such are undertaken in practice.
Two types of Audit
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With internal audit we always require to be careful of any manipulations within the company itself. Errors & frauds within the company cannot be denied /overlooked at any cost.
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Describe How does the internal audit differ from an external audit? Ans) Internal audit nothing but the checking the product that you formed. External audit is checking you
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