External Audit
/ˌɛkstɜːrnl ˈɔːdɪt/
Definitions
- (n.) An independent examination of an organization's financial statements by an external party to ensure accuracy and compliance with applicable laws and accounting standards.
The company appointed a firm to perform the external audit for the fiscal year.
Forms
- external audits
Related terms
See also
Commentary
An external audit emphasizes independence from the entity being audited, crucial for unbiased financial verification in legal and regulatory contexts.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.