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External Audit
(redirected from External Audits)

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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.
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The Costs of Waiting A failure to prepare for external audits can result in serious consequences with significant costs, both in terms of disruptions to your daily operations and the penalties associated with any compliance failures.
Surviving a records audit: 6 steps to prepare your organization: ... by Simons, Neil / Information Management Journal
External audits are designed to provide peace-of-mind to key company stakeholders not involved in the company's day-to-day operation.
Adding a traceability review to the external audit by Pape, William R.; Sadler, Robert / Mushroom News
MPs also killed off moves to allow external audits of allowances after uproar over claims for kitchens, bathrooms and plasma televisions - although the Commons authorities will audit 25% of MPs' expenses internally every year.
MPs face backlash after vote on perks; Snouts kept in the trough, say ... by The Journal (Newcastle, England)
 
 
 
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