Auditor is a person, firm or partnership which audits books and accounts. Audits can be external, that is independent from the company, or 9 auditor internal, that is members of staff who examine a company’s internal controls. External auditors are appointed by the company’s directors and voted by the AGM. In the USA, audited accounts are only required by corporations which are registered with the SEC, but in the UK all limited companies must provide audited annual accounts if they exceed the size criteria for audit exemption.
Definition