In your personal opinion, what is more important internal audit or external
audit?
From my perspective, both internal and external audit are important but
if I have to choose between the two it will be internal audit. In internal
auditing, all the information that a firm needs is not restricted to them and
then there are no standards, rules and regulations that need to be followed.
An internal audit identifies areas for improvement in an organization's
operational, financial and technological controls. It assess and provide
recommendations to organizations control and operations. In addition, it
also helps to assess risks in any area of your business and ensure that an
organization's risk management, governance and internal control
procedures are working efficiently and effectively.