Answered: external audit

Business

Management

external audit

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

What are the five major types of external forces that should be examined as part of an external audit? Give an example of each type of force

Expert Solution

Step 1

External audit: An examination carried out by an unbiased accountant is known as an external audit.
The primary goal of this kind of audit is often to certify an entity's financial statements.
Certain lenders and investors, as well as all publicly-held companies, want this accreditation.

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