The essential difference between the tax auditor, the internal auditor and the external auditor lies in the scope of the examination that each one performs of the company, below are the fundamental generalities of each:
Statutory Auditor
The statutory auditor is in charge of ruling, subject to the generally accepted auditing standards, the financial statements of the company.
It must also systematically review and evaluate the components and elements that make up internal control, in a timely and independent manner in the terms established by law. The tax auditor must carry out a comprehensive audit and must present an independent professional opinion of the evaluation and supervision of the control systems.
In your report, you must determine if the financial statements are prepared on generally accepted principles, if you have complied with legal regulations, evaluate the degree of efficiency and effectiveness in achieving the objectives set by the company, the good management of resources and the evaluation of the internal control system to conceptualize its management.
Internal Auditor He
is appointed by the administration of the organization, he is in charge of verifying the strengths and sufficiency of the controls that are applied within the company. Your study must have a full scope of the company, that is, cover financial, administrative and any other type of operations. It is appointed by the administration of the organization.
The report it performs must provide all relevant data regarding the effectiveness and efficiency of operations, the sufficiency and reliability of financial information, and compliance with company regulations.
External auditor
Appointed by the shareholders' meeting, it must be done by a public accountant outside the company, who performs an examination of the financial operations of the company, in order to issue an opinion on the reasonableness of the figures contained in financial statements based on generally accepted accounting principles, disclosing the results of its examination, in order to increase the usefulness of the information.
The report or opinion that the external auditor gives public faith to the reliability of the financial statements and the credibility of the management that prepared them.
