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What is External Auditor

Chapter 10
Accounting and Financial Reporting Challenges for Government, Non-Profits, and the Private Sector
An independent accountant who certifies a firm’s financial statements and the accuracy and complete disclosure of a firm’s accounting records. There are several reasons to hire an external auditor: if it is a requirement of investors and/or banks, for marketing purposes, or to establish safeguards in the company to eliminate corruption or fraud.
Published in Chapter:
External Auditors Discover Management Breach of Trust: Evidence From Mexico
Flory A. Dieck-Assad (Tecnologico de Monterrey, Mexico)
Copyright: © 2023 |Pages: 17
DOI: 10.4018/978-1-6684-7293-4.ch010
Abstract
The importance of ethics in the accounting discipline has increased in recent years. A Mexican company reported a slower profit growth than expected, hiring external auditors to research the reasons behind this economic growth slowdown of a profitable company. This empirical research is the key for the success of any newly born firm (especially for small and medium sized firms), to establish the safeguards to avoid corruption and fraud, offering awareness to those eager to grow in the business environment. The firm needed an integral revision of the company's finances and operations to discover the role of the persons involved in the creation of the fake invoices and to enforce the needed safeguards to avoid recurrent breaches of trust. External auditors prove to be an important tool to provide a fresh perspective about the breach of trust in the accounting professional ethical code and its criminal implications.
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Chapter 16
External vs. Internal Auditors in Prevention and Detection of Fraud: The Perception of Portuguese Tax Auditors
From the financial auditor's perspective is a professional who carries out an audit in accordance with the specific laws or rules on the financial statements of a company, government entity or other legal person or organization, which is independent of the entity being audited, governed by ethical principles.
Published in Chapter: External vs. Internal Auditors in Prevention and Detection of Fraud: The Perception of Portuguese Tax Auditors; From: Organizational Auditing and Assurance in the Digital Age
Full Text Chapter Download: US $37.50 Add to Cart
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