External audit

External audit is a periodic examination of the books of account and records of an entity carried out to ensure that they have been properly maintained, are accurate and comply with established accounting standards and legal requirements.

External auditors are independent audit professionals or firms that audit the financial statements of a company or organisation. They express their own opinions on whether the financial statements are free of material misstatements, which can be due to fraud, error or otherwise. An auditor can issue one of the following opinions: qualified opinion, unqualified opinion, adverse opinion and a disclaimer of opinion. To find out which is which complete the following sentences.