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
- Risk Assessment
- Materiality Calculation
- Audit Plan & Program
- Analytical Procedures
- Controls & Substantive Testing
- Preparation of Financial Statements
- Communication of Audit Findings
- Preparation of Audit Report
EA’s External Audit Support for Smooth Year-Ends
External audit is the examination of an entity’s financial statements to form an opinion as to whether they present a true and fair view of the entity’s financial affairs for the period for which they have been prepared.
External audit is an important event in the life of an entity as the external audit report is a key instrument in the hands of the shareholders and stakeholders by which they assess the entity’s performance and determine the extent to which they should repose trust in it. External audit, however, requires the entity’s accounting & finance staff to work laboriously to organize financial records and prepare reports and schedules and this is where Expertise Accelerated’s (EA) Audit Support Services kick in.
External Audit Outsourcing does not mean that an entity will outsource its external audit to EA; rather, it refers to the recruitment of external support for facilitating the external audit within the entity. Thus, External Audit Support essentially entails providing manhours and/or expertise to organize financial records and prepare financial schedules so that the external auditors can efficiently conduct their procedures and conclude the audit timely and cost-effectively.
For EA, External Audit Service has the same meaning as External Audit Support.
WHAT OUR CLIENTS HAVE TO SAY
FREQUENTLY ASKED QUESTIONS
An external audit is conducted to establish the truthfulness and fairness of the financial statements of an organization.
Internal audit is conducted to provide an independent assurance regarding the operational effectiveness of an organization’s risk management, governance and internal control processes.
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.
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.
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.