An external audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements . Audit procedures include risk assessment misstatement caused by fraud or error, and an evaluation of the internal control system . An audit also includes assessing the accounting principles used and accounting estimates that are reasonable under the circumstances.
For this purpose we have a multidisciplinary team of auditors and procedures that are provided by the IECnet Audit Committee who maintain international standards based on the International Standards on Auditing .
It is also important to note that IECnet is a member of the IFAC Forum of Firms.