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A Company or a body corporate, when formed, has to maintain financial records for every year. These financial records keep an account of all the financial transaction happening in the Company. In an external audit, the financial books of a body corporate are examined by independent auditors and the report then is shared with the Company as well as the stakeholders.

As the financial statements and external auditing are an integral part of the finance subject, the school, colleges, universities and other institutes gives a lot of assignments based on it. External Auditing assignment help from BookMyEssay can be availed by the students to get an inside out knowledge regarding the same as experienced experts are available with us.

Purpose of External Audit

As huge numbers and data are involved in the financial statements of a body corporate, there remains a chance of error, embezzlement and fraud. This is where the role of audit and auditors come into picture. The prime objective of external auditing is to determine the accuracy and logicalness of the financial records. They also have to make sure that the statements are complete and in accordance with the accounting rules and standards as given by the law.

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Moreover, it gives an idea regarding whether the funds are channelized and utilised in accordance with the object and aim set up by the body corporate. The External Auditing essay homework help you to understand this in details and the project you make with their help will make you excel.

External Audit- Roles and Responsibilities

External Auditors are bestowed with many responsibilities. Such roles and responsibilities have been highlighted in our External Auditing assignment help online. One of such responsibilities includes verification of the ledgers of the body corporate. As and when required, the Auditors should inquire and question the management of the body corporate. Another responsibility is to examine the validity and correctness of the various financial records. This act will be increasing the creditability and authenticity of the financial records. The auditors are also responsible to make sure that records are kept as per the accounting framework.

The financial statements consist of many data. The auditors make sure the accounts are devoid of any mistakes and errors. The whole audit process is so designed that it detects fraudulent activities if at all, taking place in the organization. Once the financial books, records and information have been checked by the Auditors and after conducting the audit, they are supposed to analyse it and prepare a report based on their findings. The report consisting of the analysis and findings in known as the Auditors’ report. The external auditors have to make sure they complete their audit within the stipulated period of time as the Auditors’ report has to be included in the Annual Report of the Company.

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What Will the Auditor Require for Auditing?

As the audit work involves scrutinising and verification of huge data, the Auditors should be assigned a separate place where they can work without any disturbance. The Auditors will require going through the records of the organization. It is advisable that the Auditors give a list of documents required by them. The organization must make sure that the records and documents are up-to-date. If the documents are well maintained, then this act will save the time of both the Auditors and the organization.

This will also cause minimal disruption of work in the organization and also save the audit fees. The organization will have to pay the auditors their fees for performing the external audit. The whole process of External Audit should be taken in a positive way. The organizations need not fear the External Audit if they are not involved in any fraudulent activities. Many students have already gained from BookMyEssay service as availing our research paper writing service on External Auditing will give students an advantage over others.

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We write every assignment from scratch and always get in touch with various references for preparing fresh papers. Students are aware of our potentialities and so, think of none but us when the need arises to get the best assignment assistance with External Auditing. They are liberal to contact our writers when they need to know about the status of our work.

Again, students can also ask for a refund from us if they find our writing services not up to their expectations. So, it can be concluded that students get benefitted in various ways when they take External Auditing assignment help from us.

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