Affluence Corp (AFFU)

[pinkslipjunkie]

There are two different types of audits TJG...internal and external...I am thinking and hoping it is an external audit from what I am reading...it would seem to be more reliable and serve the purpose of what we are looking for with this audit.

Key differences between internal and external auditing
Internal and external audits both seek to provide an independent opinion about a company’s finances or practices. However, they differ significantly when it comes to who performs the audit, its overall purpose, and its scope.

Here is a closer look at these differences:

Scope: Internal audits usually focus on a specific area of a company, while external audits look at all relevant financial information and any other practices that could confirm the veracity of budget statements.

Purpose: Internal audits focus on measuring current performance and finding areas for improvement. External audits focus on proving the accuracy and veracity of financial statements.

Auditor: External auditors are from a third party while internal auditors work on a company’s behalf.

Internal auditors may help prepare for external audits. For example, they can use automated systems for preparation, compilation and review to organise for an external audit or assess internal performance.

Source I got this information which will explain in detail the difference between the two: https://www.accountingweb.co.uk/community/industry-insights/which-is-better-internal-or-external-auditing