independent 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.

independent audit

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ISLAMABAD -- The SECP-ICAP joint committee has reached consensus about the way forward, towards formation of a robust and effective independent audit oversight board in Pakistan.
This article in particular concerns independent audit requirements.
We persuaded the New York Stock Exchange to require independent audit committees for their listed companies.
The independent audit, conducted by Education Resource Strategies, will examine the potential for savings and efficiencies in operating the district and will propose long-term strategies for controlling costs.
The independent audit committee provides oversight of the financial reporting process while the independent auditor provides an outside opinion on the fairness of the financial statements.
In Northern Ontario, two of the major forest companies that have chosen FSC as an independent audit for their forests are Tembec and Domtar.
General Synod has asked a leader in the area of gift planning and annual giving in Canada to conduct an independent audit of the Anglican Church of Canada's annual fundraising programs to look at ways of improving the way Canadian Anglicans are approached for donations.
Generally, they call for (1) mandatory independent audits based on organization size, (2) independent audit committees with financial expertise, (3) governing board review (including executive compensation review), (4) whistle-blower provisions and (5) certification of financial statements.
The paper provides the FLS Committee's initial observations and views concerning forensic accountants' services, including involvement with the independent audit team to increase financial statement audit effectiveness and execute accounting-related fraud investigations.
Next week The Journal puts speed cameras under the microscope when we launch Safety First, a detailed examination of the speed camera debate, including an independent audit of every fixed speed camera site in the Northumbria area.
In April, the association uncovered that an independent audit detailed how Hill mismanaged the Texas Head Start agency for which she was responsible before appointed as Head Start Bureau chief.
The approval process involves a rigorous independent audit, company President David Fink says.

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