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  • How important it is for you to pass the exam in this attempt?
  • What percentage of course you have finished well so far roughly?
  • How many hours you study in a day?
  • How many times you have revised the topics you have finished
  • Have you taken online or pen drive or live class from a renowned faculty?
  • What percentage of the classes you have watched?
  • Have you attempted mock tests or practice tests yet?
  • Are you planning to attempt mock tests conducted by external bodies- ICAI, ICSI, ICMAI or other institute?
  • How many tests you have taken?
  • Did you manage to finish the test papers on time?
  • Are you strictly following study material provided by the exam conducting authority such as ICAI/ICSI/ICMAI/Other Body?
  • How is your health in general?
  • How is your food habit?
  • Any interest in yoga or exercise or play sports regularly?
  • Planning to sleep well nights before the exams?
  • Planning to have light food and water before exams?

Difference between Internal and External Audit

Difference between Internal and External Audit

Although some of the work carried out by internal auditors is similar to that performed by external auditors, particularly in areas dealing with the internal controls assessment, there are a range of important distinctions:

  • Internal auditors report to the directors or the audit committee, while external auditors report to the shareholders.
  • The objective of the internal audit department is to add value to the company by improving the company’s operations and internal controls, while the aim of the external audit is to provide independent opinion on the financial statements of the company.
  • In relation to the company, internal auditors are usually employees (or the function is outsourced), whereas external auditors are independent of the company.
  • In contrast to external auditors, there are no legal requirements regarding qualification of the internal audit specialists.
  • Regarding publicity, reports produced by internal auditors are private, whereas those of external auditors are publicly available.

 Difference between Internal and External Audit

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