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Review:

External Audit

overall review score: 4
score is between 0 and 5
An external audit is an independent examination of an organization's financial records, compliance procedures, and internal controls by a third-party auditor.

Key Features

  • Independence
  • Financial records review
  • Compliance assessment
  • Internal controls evaluation

Pros

  • Provides unbiased assessment of financial health and compliance
  • Can uncover errors or fraud that may have been missed internally
  • Enhances credibility with stakeholders

Cons

  • Can be costly for organizations
  • May disrupt normal operations during the audit process

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Last updated: Thu, Dec 12, 2024, 10:41:49 PM UTC