Internal auditors do not have the same amount of knowledge about internal controls and the company's operations as the external auditors do.

Question

Quizplus · Accepted Answer

Internal auditors typically have more in-depth knowledge about the company's operations and internal controls because they are employed by the company and work closely with its processes on a daily basis, unlike external auditors who audit the company's financial statements annually or for specific purposes and may not have the same level of detailed insight.

Internal Auditors Do Not Have the Same Amount of Knowledge