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External auditors also undertake management consulting assignments. Under statute, an external auditor can be prohibited from providing certain services to the entity they audit. This is primarily to ensure that conflicts of interest do not arise. The independence of external auditors is crucial to a correct and thorough appraisal of an entity ...
An auditor is a person or a firm appointed by a company to execute an audit. [1] To act as an auditor, a person should be certified by the regulatory authority of accounting and auditing or possess certain specified qualifications. Generally, to act as an external auditor of the company, a person should have a certificate of practice from the ...
Auditor independence is commonly referred to as the cornerstone of the auditing profession since it is the foundation of the public's trust in the accounting profession. [1] Since 2000, a wave of high-profile accounting scandals have cast the profession into the limelight, negatively affecting the public perception of auditor independence.
Consultant auditors are external personnel contracted by the firm to perform an audit following the firm's auditing standards. This differs from the external auditor, who follows their own auditing standards. The level of independence is therefore somewhere between the internal auditor and the external auditor.
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State auditors (also known as state comptrollers, state controllers, or state examiners, among others) are fiscal officers lodged in the executive or legislative branches of U.S. state governments who serve as external auditors, program evaluators, financial controllers, bookkeepers, or inspectors general of public funds.
National Audit Office (abbreviated NAO, Finnish: Valtiontalouden tarkastusvirasto (VTV) [3]) oversees the management of public finances in Finland and monitors fiscal policies as well as election and party funding. It operates as the supreme external auditor in connection with the Parliament. Independent audit work ensures that state funds are ...
The State Supreme Audit (Albanian: Kontrolli i Lartë i Shtetit) is the supreme audit institution of the Republic of Albania, and as such is the highest institution of economic and financial control in the country. As an independent governing body it is subordinated only to the law and the constitution.