External audit is a routine check of records and/or procedures performed by the certified auditors who are not the part of the company to be audited. It helps both the company and government to check accounting documents. An external audit can be conducted voluntarily or non-voluntarily by the outsider. The external audit is prepared to check the accuracy of statements and an organization’s financial standing.
An external auditor is a professional, independent third party that performs an unbiased review of the financial records of a certain company. The auditor must evaluate the organization’s records, including payroll, purchasing records and accounting. He/she also looks at the financial investments and organizations loan structure to identify any irregularities.
Need for External Audit in Nigeria
External audit is compulsory for all the companies registered in the Nigeria. The mandatory compliance with International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) has made the external audit report a significant document. The external audit report acts as a definitive financial document at the time of license renewal, getting a loan, etc.
Ogedengbe Blessing & CO External Audit Services in Nigeria
- Analysis of business performance against predetermined management objectives
- Examining the accounting records and checking other evidence supporting financial statements
- Assessment of business risks and providing the relative suggestions
Why Ogedengbe Blessing & CO?
Ogedengbe Blessing & CO is a financial consultant in Nigeria offering a wide range of business services, including accounting, auditing, software consultancy, and management. We have been providing the best audit services in Nigeria and other areas as well. At Ogedengbe Blessing & CO, we follow precise and proven approach to ensure that every item requiring investigation and verification of financial records is properly substantiated.
For external audit services in Nigeria, contact us – we’d be glad to assist!