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

See external 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.
SEC admitted into global body of audit regulators
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."
SEC admitted to IFIAR membership
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.
Audit finds Morgan State financially, operationally sound
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.'
Clear direction on Dalian issue eyed this week
Among other things, the proposed judgment requires an independent audit of all student loans in the NCSLTs' portfolios.
Fitch Ratings maintains RWN on 16 tranches of NCSLTs
There were several prior studies that underscored the advantages of having independent audit committee.
Corporate Governance of Banks in Asia Emerging Market: A Study on Independent Audit Committee and Liquidity
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.
The relationship between an independent audit, restatements, and financial reporting quality: Evidence from small private commercial banks
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
SECP-ICAP Joint Committee on audit oversight board submits it report
"Following an independent audit the issue was subsequently resolved.
PROBE AS ROAD FIRM 'DRUM UP PS1m FAKE REPAIRS' Ex-workers blow whistle
The award was given after a two-day independent audit of the centre's system and processes conducted earlier this month.
Group lauds Al Ain centre's conservation model for Arabian tahr
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.
'Dirty money' audits almost complete
The bidding process for the auditing firms interested in taking part in the independent audit into Cyprus` legal framework against money laundering concludes today.
CYPRUS: Bidding process to select auditing firm near completion

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