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Internal audit is done by the employees of the company and sometimes by a firm of chartered accountants where the the manpower of the company is less.it is done before starting of statutory audit.

interim audit is done before final audit.it may be due to death of the auditor etc. appointment of an interim auditor upto financial year.it is a stopgap arrangement.

 

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Internal audit is the audit of internal financial controls to check whether all the risks are identified and resolved where interim audit is not final in nature and there could be more audits to be done.

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