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An assigned team from outside the business, or a third-party entity, conducts an external audit, which is a formal and impartial review of your organization's systems and processes. For the purpose of carrying out various audits, the body needs to be accredited and recognized. Here, your main goal is to reassure the organization's stakeholders and other interested parties about the performance of your business. Fair conduct and passing an external audit show that your organization is operating effectively, that there are no dangers in any areas or processes, and that you are following the rules or standards, as applicable, and that you are doing so in compliance.
Therefore, the primary reason for performing an external audit is to demonstrate publicly how well your firm performs or complies with the law. The primary tasks involved in external audits are nearly identical to those involved in internal audits. However, early planning is necessary for an external audit since your organization's personnel must be ready and able to communicate with the external auditors.