External Auditing

Abstract

External auditing is crunch time for the organization. The compliance audit is likely to be a “special” audit variant on the routine audits that lead to financial reports. The Sarbanes-Oxley Act has put an edge on the process. The assessment of internal controls, processes, and documentation is oriented more to a certification process than a standard audit. This is all the more reason to ensure that the organization is fully prepared for the auditing experience, and that the compliance process works well and is successful. The external auditor, under the terms of the Act, has a place of importance marginally behind that of the executive management of a listed company. The obligations and requirements are considerable, though not tightly defined in the Act.