External Audit Support

“Tailored Solutions, On-Demand Resources, Assured Quality, Round-The-Clock Service.”

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Plan for Future with EA’s Outsourced External Audit Support

Let Expertise Accelerated’s offshore resources take the administrative pain of your external audit.

External audit remains a major regulatory requirement for most organizations even today and consumes significant financial and human resources to conclude successfully.

Even though this process is crucial, many organizations find it painstaking for reasons such as interruption in day-to-day operations, limited capacity to organize data for audit purposes and inability to commit extra human and financial resources to the auditing process, among others. 

Such companies have found remote external audit support services as the solution – relieving them of all the challenges associated with this process.

Leverage Expertise Accelerated’s global talent pool to employ professionals who will lend you end-to-end support for a successful conclusion of the external audit.

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External Audit Support

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Planning Phase

  • Budgeting
  • Risk Assessment
  • Materiality Calculation
  • Audit Plan & Program
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Execution Phase

  • Analytical Procedures
  • Sampling
  • Controls & Substantive Testing
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Conclusion Phase

  • Preparation of Financial Statements
  • Communication of Audit Findings
  • Preparation of Audit Report

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FREQUENTLY ASKED QUESTIONS

What is the purpose of external audit?

An external audit is conducted to establish the truthfulness and fairness of the financial statements of an organization.

What is internal and external audit?

Internal audit is conducted to provide an independent assurance regarding the operational effectiveness of an organization’s risk management, governance and internal control processes.

What is external audit process?

An external audit involves the examination of an organization’s financial records with the objective of establishing whether the financial statements, representing these financial records, present a true and fair view of the organization’s financial performance.

What are the types of external audit?

An external audit may be statutory or voluntary with the former being mandated by applicable financial or corporate laws and regulations and the latter being undertaken by an organization voluntarily, i.e. without any legal or regulatory requirement.

How are external audits done?

External audits entail an examination of the financial records of an organization with the examination being done through test of controls and substantive testing. In the United States, an independent CPA or a firm of CPAs is entitled to perform an external audit.