External Auditor
What is External Auditor?
An independent professional or firm engaged to examine an organisation's financial statements, controls, or compliance with standards. External auditors provide objective assurance to stakeholders, regulators, and the public.
Frameworks that govern external auditor
What the standards actually require on external auditor
Requirements naming external auditor across 6 standards, quoted from the control text.
External auditors review general and application IT controls as part of their opinion on the financial statements, may review IT controls under an internal audit outsourcing engagement, and have the scope, objectives, resources, time frame and reports of their...
ffiec-it-examination-handbook::AUD-06 · External Auditors (Audit) →Guides the reporting obligations of external auditors under the Banking Ordinance: appointment, removal and resignation of auditors; auditors' reporting on banking returns (coverage, frequency, criteria for reporting errors);
hkma-spm::IC-3 · IC-3 Reporting Requirements Relating to Authorized Institutions' External Auditors under the Banking Ordinance →Where the agency has an Inspector General under the Inspector General Act of 1978, the IG performs the evaluation or has it performed by an independent external auditor as the IG determines;
fisma::3555(b) · 3555(b) Evaluation by the Inspector General or an independent external auditor →The Board must ensure a reliable financial reporting process for public and supervisory purposes, supported by clearly defined roles for the Board, Senior Management and the external auditor.
iais-insurance-core-principles-icps::7.7 · 7.7 A reliable financial reporting process with defined roles for Board, management and external auditor →ISO/IEC 17021-1:2015, 7.3 governs the use of external individuals, whether auditors or technical experts. For ISMS certification, a technical expert on the team works under an auditor's direction and must satisfy the minimum criteria used when choosing auditor...
iso-iec-27006-1-2024::7.3 · Use of individual external auditors and external technical experts →Where the certification body uses individual external auditors or external technical experts for AIMS certification, it applies ISO/IEC 17021-1:2015, 7.3 (a written agreement committing them to the body's policies and procedures, confidentiality, impartiality...
iso-iec-42006-2025::7.3 · Use of individual external auditors and external technical experts →Questions people ask about external auditor
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