The External Auditor is responsible for examining and verifying a company’s financial statements, internal controls, and accounting records to ensure compliance with accounting standards, regulations, and best practices. Working independently or as part of an audit team, the external auditor provides objective assessments and reports findings to stakeholders, often in line with statutory or regulatory requirements.
Key Responsibilities:
Conduct Financial Audits:
Review financial statements for accuracy, completeness, and compliance with applicable accounting standards (e.g., IFRS, ).
Assess financial reporting processes and internal controls.
Test accounting systems and procedures.
Risk Assessment:
Identify areas of financial risk and evaluate controls in place.
Assist in the planning of audit scope and objectives based on risk analysis.
Compliance Verification:
Ensure compliance with legal and regulatory frameworks (e.g., tax laws, SOX).
Confirm adherence to internal company policies and procedures.
Reporting:
Draft audit reports detailing findings, recommendations, and areas for improvement.
Communicate findings to clients or company management clearly and professionally.
Client Interaction (for audit firms):
Liaise with clients to gather information, resolve issues, and provide insights.
Build and maintain strong client relationships through effective communication.
Doentation:
Maintain audit work papers and doentation in accordance with auditing standards.
Prepare supporting doents for audit opinions or qualified reports, if applicable.
Team Collaboration:
Collaborate with audit team members and provide guidance to junior auditors.
Participate in audit planning meetings and progress reviews.
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