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An external audit, a formal and unbiased assessment of your company's systems and procedures, is carried out by a designated team from outside the company or a third-party body. The organization must be recognized and accredited in order to conduct different audits. Reassuring the organization's stakeholders and other interested parties on the state of your firm is your primary objective here. Fair behavior and passing an external audit demonstrate that your company is running efficiently, that no regions or procedures are dangerous, that you are adhering to the necessary regulations and standards, and that you are doing so in compliance.

Thus, the main goal of doing an external audit is to show the public how well your company operates or conforms with the law. External audits and internal audits both involve essentially the same fundamental duties. However, since your organization's staff needs to be prepared and able to speak with the external auditors, an external audit requires early planning.