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What’s the difference between external and internal auditors?

April 26, 2017auditors external Internal

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What’s the difference between external and internal auditors?

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External auditors are independent public accounting firms (e.g. KPMG) with which WFU enters into a contract. They review the University’s annual financial statements to ensure the information presented accurately portrays WFU’s financial condition.

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External auditors can be government auditors or independent public accounting firms with which Tufts enters into a contract. Government auditors focus primarily on compliance with government regulations and sponsored program award terms. Independent public accounting firms review the university’s annual financial statements to ensure the information presented accurately portrays Tufts’ financial condition.