The external Auditing is an audit on the business book of accounts that are callrried out by the external auditors, accountants or outside parties to help remove any bias in reviewing the financial state of a company's. So the external auditing is to reassess the financial audits that was carried out by any internal person which is to identify if there are any material misstatements in all the business account.
What's external Auditing is about in business
- Thread starter cherry123
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This is when an external body of auditors are brought into the organization to ascertain if the financial statements are in order.
It's an audit that is done from someone outside the company or a total stranger.
Personally, I hate having external auditors come into our business. It means that there's a big possibility they are looking for a loophole which is bad in the business.
Yes, indeed. If I do have a big business, I need to avail the accounting firm to deal with all my finances. They are the ones who can audit things in my company financially.
This is actually the business auditing that involves the use of a new auditor outside the company or an organisation to foresee whether there is some mistakes made by the auditing that was initially done by the company's auditors.
You still need to have an internal auditor and you also have an external auditor. A big business should be able to afford hiring the two of them easily.