Question

why are external auditors verified

Answer 1

HEY MATE HERE'S YOUR ANSWER ;


External auditors are independent of the organisation they are auditing. They report to the company's shareholders. They provide their experienced opinion on the truthfulness of the company's financial statements and perform work on a test basis to monitor systems in place.


Financial statements that have been audited and verified by an external auditor are considered more reliable in the business marketplace than those that have not. Lenders, investors and potential clients often require externally audited financial statements before making the decision to work with a company.