What is External Auditor
This is an independent accounts professional who goes into a company to independently give an opinion on the financial position of the business. It is important that this person is independent as the figure are to be used by others outside the company .e.g., banks, tax man, shareholders.
They look at the accounts system and procedures and check that it is correct and used correctly. They used standard method to determine if the figures are correct and that the overall financial statements are a true and fair statement of the business financial position.
A company’s size is one of the factors used by companies Act to determine if a company must have its financial statement certify by an external auditor.
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Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms, and to explain them in Plain English so it is very easy to understand. Getting the right understanding and knowing your business jargon will keep you informed among your peers.