The External Auditing Policy and Procedure determines if the company presents financial information in accordance with established criteria and is in compliance with specific requirements. The procedure also determines if the company has designed and implemented effective internal controls over financial reporting and safeguarding assets to achieve stated control objectives. It applies to all financial operations. (10 pages, 1972 words)

Activities Covered in the External Auditing Policy Procedure

• External Audits-Background
• Planning for an External Audit
• Supporting the External Audit
• Reviewing External Audit Results
• External Audit Follow-up

References Used in the External Auditing Policy Procedure

• Audit of Internal Control over Financial Reporting that is Integrated with an Audit of Financial Statements and Related Other Proposals (Auditing Standard #5)
• Generally Accepted Auditing Standards (GAAS), American Institue of Certified Public Accountants (AICPA); Statements on Auditing Standards (SAS) #95, 98, 102, 105, and 112 (June 2006)
• Uniform Accountancy Act, 5th Edition

Forms Included in the External Auditing Policy Procedure

• Corrective Action Plan Form