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 ?
The article, titled "The Impact of Internal Audit Function Quality and Contribution on Audit Delay," provides insights into the benefits that can be achieved through a quality internal audit function and better coordination with the external auditor. These findings confirm the benefits of investing in high-quality internal auditors and should encourage external auditors to leverage the resources the internal audit function offers to provide a timely audit.
The National Bank of Kyrgyzstan holds annually a closed tender for choosing an external auditor of the central bank with parliament members in attendance.
Summary: New Delhi [India], June 3 (ANI) Comptroller and Auditor General of India (CAG) Rajiv Mehrishi has been elected to the position of External Auditor of the World Health Organisation (WHO) for a four-year-term from 2020-23.
Under the revised guidelines, banks and supervised financial institutions should engage the services of an external auditor included in the list of selected external auditors.
And how was a licensed and supervised sacco allowed to get to this point?The same for the sacco's external auditors. The Act requires saccos to appoint an external auditor, whose name it submits to Sasra.
With respect to auditors, ISS voting guidelines often consider non-audit services and fees as one factor when assessing the independence of the external auditor, and ISS is seeking input on what other audit-related factors could be considered in evaluation of the independence and performance of the external auditor.
These violations include: (1) a covered enterprise filing its FS with the regulatory government offices without attaching the certificate, (2) the application for accreditation of the CPA not being approved/denied because of oversight/negligence/failure to comply with the accreditation requirement after the FS has been issued; (3) the external auditor of an audit client is the one doing the compilation services for the preparation of the FS and notes of the audit client; and (4) and any other pertinent cases.
In the circumstances of external auditor unable to deliver high-quality audits will plummet the confidence of the stakeholders especially the investors thus lead to negative consequence for the company.
ABB (SIX:ABBN) announced on Friday the proposal by its board of directors to appoint KPMG as its external auditor effective for the financial year 2018.
128, "Using the Work of Internal Auditors." It says that auditing standards permit the external auditor to rely on internal auditors as assistants or rely on the work performed by internal auditors who are sufficiently competent, objective, and perform quality work.
DFM shareholders also ratified the Board of Director's report on the company's performance and its financial position for the fiscal year 2015, the external auditor's report and the Fatwa and Shariah Supervisory Board report.
To that end, understand management's framework, help ensure that management has appropriate controls in place, and ask for the external auditor's views.