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Joined January 2009
Does the firm you have applied to, is asking this?
If so, nothing is better... It's your call.. whatever interests you. It is not like you have to stick with it for life, you can also request your principal to allocate other areas too.
Statutory audits, if conducted at client's place, you will have to visit lots of different places, outstation maybe. More emphasis on statutory requirements. As they have ends, you won't be stuck with one entity forever. They're a treat for foodies... you might be having a king's leisure. But, can be hectic and drain you out.
Internal audits are continuous and you go the same place almost everyday. More emphasis on internal rules and regulations and statutory. Maybe possible you end up going the same place throughout your articleship. Pros would be, if there is no one to watch you can bunk at times, beware of getting caught. ;) This can be good if you intend to open up your business someday. Get acquainted to office politics... ;)
Taxation, you can have return preparations, tax planning, consultancy. Always under the eyes of people..
If you ask me, if I really had to choose and I couldn't change, I'd say Tax, less pressure and you learn something which can be useful in day-to-day life. You can file returns of neighbours.. ;)
I also recommend you to ask your seniors/ principal to allocate different kind of assignments. For them, you are someone to do work, for you they are someone to learn from.