If anybody is going to take responsibility for a firm's accounts, it should be the external auditor.
PwC is the external auditor for Man Financial, the firm from which MF Global was spun off.
The external auditor uses inquiry and actual testing of transactions to develop a formal opinion on the financial statements.
There are additional risks for clients when the external auditor performs work in multiple global locations to support an audit.
Following advice received from the audit commission his complaint will go to Cornwall's head of finance and to the county's external auditor.
As such, external audit costs for SOx work by the external auditor are now typically included in the integrated audit fee shown on the proxy.
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CFOs will be pitching themselves and their companies not just to banks, tax authorities and external auditor but also customers, suppliers, supply chain partners and so on.
Designing internal controls and accounting strategies, approving journal entries, and giving final signoff on technical accounting treatments is a clear breach of independence for an external auditor.
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The external auditor is independent of the company being audited.
The independent external auditor is a licensed professional who works for a public accounting firm and performs an audit of the financial statements of a company, government, individual, or any other legal entity or organization.
The external auditor is hired by the independent Audit Committee of the Board of Directors on behalf of the shareholders to present an unbiased and independent evaluation of the fair presentation of financial information by management.
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