external audit

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External Audit

A measurement and report on the state of a person's or business' finances, made by an external agency. A common (and feared) example of an external audit is an audit by the IRS, which is done to ensure that the person or business being audited has paid the appropriate amount in taxes. Often, companies hire audit firms to look at their financial states and to receive an objective assessment. It is also called an outside audit. See also: Internal audit, Audit.

external audit

An examination of a company's records and reports by an outside party. Also called independent audit, outside audit. Compare internal audit.
References in periodicals archive ?
TD 15-003-BCN-B: Four external audits, one at each end and the intervention annuity for the "First you answer and sudden emergencies sudden worsening of chronic crisis," no specific geographical area, driven by Oxfam and the AECID .
Supporters should wait until the external audits are completed before filing their petitions.
Coordination of internal and external audits can result in more effective audits conducted at lower overall cost.
While instances of external audits can be found a early as the 14th century in England, U.
However, to meet the 2005 audit requirement, it may be able to substitute annual internal audit reviews for external audits.
Divided the external auditor staff into those performing the internal audit function and those performing the external audit tasks.
3rd completion of external audits of the OP HRE; the extent and under the conditions laid down in the commercial and technical conditions specified in the tender documentation.
2) Outsourced to an external auditor other than the one that performed the company's external audits.
It must be difficult to balance the public interest in maintaining independent, objective external audits with the legitimate commercial aspirations of accounting professionals.
Financial Executive: Since you use the same vendor for internal and external audits, do you see a change in the external audit?
By doing so, AuditWizard minimizes time spent trying to figure out what assets exist on the network, enabling IT administrators to utilize their time and resources on other mission critical activities and eliminating business risk to potentially costly external audits due to software license agreement violations.
The subject of the public contract is to implement mandatory external audits of selected projects of the Operational Programme Education for Competitiveness and issue audit reports in accordance with the requirements of the Guide to the beneficiary of financial support from the OP VK, which will include the auditor~s opinion in accordance with Act No.