External Auditor

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External Auditor

An outside person who measures and reports on the state of a person's or business' finances. A common 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 external auditors to look at their financial states and to receive an objective assessment. See also: Internal audit, Audit.
References in periodicals archive ?
Frankfurt am Main: The Governing Council adopted Recommendation ECB/2017/42 to the Council of the European Union on the external auditors of the European Central Bank.
eighth meeting of the Panel of External Auditors, chaired by Mussa Juma Assad, Controller and Auditor General of the United Republic of Tanzania, was held on 30 November and 1 December at the Food and Agriculture Organization (FAO) in Rome.
Pursuing our interest in internal controls, we started talking to current and former external auditors about six years ago.
The shareholders also re-appointed PricewaterhouseCoopers (PwC) as the external auditors for the fiscal year 2016 and determined their fees, in addition to discharging members of the Board of Directors and the External Auditors from their liabilities for the fiscal year ending December 31, 2015.
It is important to realize that external auditors are not required to use a client's internal audit function during a financial statement audit.
Global Banking News-September 28, 2015--World Bank backs dialogue between supervisors and external auditors in Europe
Audit committees of public companies are under increasing regulatory pressure to ensure external auditors are doing a quality job.
The shareholders also appointed the External Auditors PricewaterhouseCoopers (PwC) for the fiscal year 2015 and determined their professional fees, in addition to discharging members of the Board of Directors and the External Auditors from their liabilities for the fiscal year ending 31 December 2014.
The Bank of England on Friday released a Consultation Paper on the engagement between external auditors and supervisors and the Prudential Regulation Authority's (PRA) powers over external auditors and actuaries.
So the question arises, can internal auditors rely on the work performed by external auditors and at the same time ensure the integrity of the information?
The Bangko Sentral ng Pilipinas (BSP) has granted banks' private external auditors limited access to its report of examination (ROE) to assist regulators in detecting possible "misstatements" and identify the "high risk" areas.
New Delhi, Dec 8(ANI): Comptroller and Auditor General of India (CAG) Vinod Rai has been elected as the Chairman of the Panel of External Auditors of the United Nations, the Specialized Agencies and the International Atomic Energy Agency.

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