70.2K

Verified Solution

Link Copied!

1. What is the difference between internal and external audits?

		External Audit looks outward, and Internal Audit looks inside the company.
		External Audit looks at the financial statements, and Internal Audit takes a wider view of the whole company.
		There is no difference they are the same thing
		Internal Audit roles are in a company, External audit roles are in a firm.
		External Audit looks outward, and Internal Audit looks inside the company.

2. PPA students will be expected to take a semester off of classes if they complete a Spring internship.

True

False

3. What are some differences between tax, audit, and consulting?

		Tax professionals help their clients save as much money as possible by getting see all elements of the clients financial position, while audit is going to client sites and reviewing financial statements, and consulting is helping clients solve a specific problem.
		Tax professionals make sure their clients are in compliance with IRS regulations, while auditors review financial statements for errors or fraud, and consultants tell clients how to do their business better.
		They are all different titles for the same types of roles
		Tax professionals work out of their client sites, and auditors are in the office more while consulting looks at technical issues the clients are facing.

4. The taxation certificate is relevant to public accounting, industry, AND government.

True

False

Answer & Explanation Solved by verified expert

See Answer