What is an External Auditor?

The video explains the role of external auditors, who must be independent from the company they audit. Typically employed by public accounting firms, they are hired to perform audits. In the US, external auditors must be certified public accountants (CPAs), although non-CPAs can assist in audit tasks but cannot issue audit opinions.

What is the primary role of an external auditor?

Why must an external auditor be independent from the company they are auditing?

What qualifications must an external auditor have in the US?

Can non-CPAs be part of the audit team, and if so, what is their role?

What is the significance of the audit opinion issued by the external auditor?