Distinguish Between Internal Documentation and External Documentation as Types of Audit

question 42

Essay

Distinguish between internal documentation and external documentation as types of audit evidence. Give two examples of each. Which type is considered more reliable?

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Definitions:

Resisting Change

The opposition or reluctance to alter existing conditions or practices.

Socioeconomic Model

A framework that explores the social and economic factors that influence individual or community behavior and outcomes.

Classical Economic

Pertains to the original economic theories and principles laid out by economists such as Adam Smith, focusing on market dynamics and efficiency.

Stakeholders

Individuals or groups with an interest or concern in the success and activities of a business or project, including employees, customers, investors, and the community.