Abstract Evidence from the auditory domain suggests that sounds generated by self-performed as well as observed actions are processed differently compared to external sounds. This study aimed to investigate which brain regions are involved in the processing of auditory stimuli generated by actions, addressing the question of whether cerebellar forward models, which are supposed to predict the sensory consequences of self-performed actions, similarly underlie predictions for action observation. We measured brain activity with functional magnetic resonance imaging (fMRI) while participants elicited a sound via button press, observed another person performing this action, or listened to external sounds. By applying multivariate pattern analysis (MVPA), we found evidence for altered processing in the right auditory cortex for sounds following both self-performed and observed actions relative to external sounds. Evidence for the prediction of auditory action consequences was found in the bilateral cerebellum and the right supplementary motor area, but only for self-performed actions. Our results suggest that cerebellar forward models contribute to predictions of sensory consequences only for action performance. While predictions are also generated for action observation, the underlying mechanisms remain to be elucidated.