Internal Audit and Cost Manager Question:

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How internal audit differ from an external audit?

Internal Cost & Audit Manager Interview Question
Internal Cost & Audit Manager Interview Question

Answer:

Internal audit nothing but the checking the product that you produced.
External audit is checking your product by your customer.

Here it means you may not find mistakes in your processes but a third man who comes and check the system he may see some deviations in the system and give suggestions for the improvements of the system.

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List the basic principles of an internal audit controlsystem?Explain what is External audit?