Forskellen mellem ekstern og intern revision

Atdhedon Kelmendi

Student thesis: Master thesis


When it comes to the term “audit” many might immediately think of external audit, and when internal audit is mentioned, their first reaction may just well be “Isn’t that the same?”. Whilst they might have resemblances, that is not the case. This thesis examines the differences between external and internal auditing in Danish financial companies with the focus set on the initial processes and planning stages. Furthermore, it examines the potential challenges that could be presented when applying the work of the internal auditors and the collaboration between them.
In Danish terms the external auditor is described as the representative of the public, whose purpose is to verify that the annual accounts provide a true and fair picture of the organizations finances, while the internal auditor is there to adequate the board that the overall control environment is reassuring and functioning well. Both are containing the word audit, but with two different purposes. Although the two types of audit have many similarities, the legal requirements are different, the auditor independence is different, the resources are different, the competences are different and the planning stages are different. These differences will only be further elucidated, with the internal audit heading towards a more operational audit rather than a financial audit.
Through multiple interviews with external auditors as well as internal auditors, this thesis provides insight on challenges that have occurred for both the external and the internal auditors. The external auditors experienced challenges in operating with outdated methods that the internal audit was using, while the internal auditors experienced challenges with the adjustment made by the external auditors on the already planned audit. Applying the same audit tools and the same international standards were presented as potential improvements that could be implemented to ease the difficulties in the collaboration, but neither were seen as possibilities that could occur in the near future mainly because of the differences between the two types of audit. Even though the distance between the external auditor and the client expands when using the work of the internal auditors, it benefits the external auditors work in becoming more efficient and less resource consuming. This collaboration ultimately creates a synergy, which essentially is beneficial for the organization as a whole.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2019
Number of pages89