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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Our independent audit consultant we have reminded them that they will enjoy utmost independence.
The establishment of independent audit oversight board for public interest companies would raise quality of audit ensuring protection of minority interest and restoring investor confidence.
The Cabinet's Decree to Determine Companies Subject to Independent Audit was amended in March 2014, but this decree came into force on Jan.
Securities and Exchange Commission (SEC) and mandated independent audits.
Companies establish an independent audit committee that meets frequently with the internal and the external auditors.
We think there should be an independent audit of every camera in the country.
Controlled companies (one in which an individual, a group or another company hold more than 50% of the voting power) would have to have a completely independent audit committee but would be exempt from the requirement that a board must have a majority of independent directors.
If Congress determines that the integrity of corporate income tax returns warrants an expanded scope and higher level of internal scrutiny than is currently required, TEI suggests requiring a company's independent audit committee to annually authorize the chief tax officer to sign the corporate income tax return.
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.
Participants will earn 11 hours of CPE to help develop the simulations, which present a company profile and require test-takers to perform various tasks associated with planning or performing fieldwork for an independent audit of the company's financial statements.
Oversight of the internal and independent audit functions (27%).

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