Who is responsible for conducting an audit in a company?

[niyati]

I’m trying to understand the audit process better. Can someone clarify who exactly performs the audit in a company? Is it always done by an external firm, or can it be handled internally? Also, are there any specific qualifications or certifications that an auditor must have?

 

[jainnorton]

An independent external auditor, typically a Chartered Accountant (CA) or Certified Public Accountant (CPA) or a firm of such professionals, is responsible for conducting a company's audit. They are appointed by the company's shareholders.