5 May Chin is an audit intern at Paul Adam Chartered Accountants. She is confused about the responsibilities of the profession. It is difficult for her to undertstand the need for an internal audit when there is an external audit. Explain to her the two types of auditing and what are the differences.

5 May Chin is an audit intern at Paul Adam Chartered Accountants. She is confused about the responsibilities of the profession. It is difficult for her to undertstand the need for an internal audit when there is an external audit. Explain to her the two types of auditing and what are the differences.

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter4: Professional Liability, Auditor Judgment Frameworks, And Professional Responsibilities

Section: Chapter Questions

Problem 53RSCQ

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