Tips for a Better Virtual External Audit of the Financials

An external audit of the financial statements is the process by which organizations hire an independent third-party accounting or professional services firm to examine their financial records and produce audited financial statements. While external audits are traditionally conducted on-site, business closures over the past year as a result of the COVID-19 pandemic have meant that many finance processes, including the external audit, were conducted virtually over the past year. After analysis of APQC's virtual audit quick poll, this tool will provide tips for a better virtual financial audit of the financials for both the practitioner and auditor/auditing team.