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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References in periodicals archive ?
Ifiar continues to work with its members and prospective members to enhance independent audit oversight globally, and we look forward to working with the team at the Philippine SEC,' Ifiar Chairman Brian Hunt said.
He added that, "IFIAR continues to work with its members and prospective members to enhance independent audit oversight globally, and we look forward to working with the team at the Philippine SEC."
The university participates in multiple audit examinations, which include the aforementioned independent audited financial statement, in addition to audits by the State of Maryland Legislative Office and audits conducted by Morgan's own Internal Audit & Management Review office.
Tugade said based on the independent audit, the Dalian trains can still be used if the adjustments identified in the audit are addressed, without sacrificing the safety, the security, and life of the passengers and the system.'
Among other things, the proposed judgment requires an independent audit of all student loans in the NCSLTs' portfolios.
There were several prior studies that underscored the advantages of having independent audit committee.
The objective of this study is to examine the relationship between an independent audit and financial reporting quality in the small private commercial bank setting.
ISLAMABAD -- The joint committee of the Securities and Exchange Commission of Pakistan (SECP) and Institute of Chartered Accountants of Pakistan (ICAP), formed to prepare recommendations for establishing an independent audit oversight set up for public interest company auditors in Pakistan
"Following an independent audit the issue was subsequently resolved.
The award was given after a two-day independent audit of the centre's system and processes conducted earlier this month.
Prior to the Eurogroup's decision to agree in principle to a e1/410 billion bailout of Cyprus, EU finance ministers demanded an independent audit of Cyprus' anti-money laundering rules and application.
The bidding process for the auditing firms interested in taking part in the independent audit into Cyprus` legal framework against money laundering concludes today.

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