Listen to a Business English Dialogue about Independent auditor
Jimmy: Hey Naomi, do you know what an independent auditor does?
Naomi: Hi Jimmy! Yes, an independent auditor is a professional who examines a company’s financial records to ensure accuracy and compliance with regulations.
Jimmy: That’s right, Naomi. Independent auditors provide an unbiased assessment of a company’s financial health, which helps investors and stakeholders make informed decisions.
Naomi: Absolutely, Jimmy. They also assess internal controls and risk management processes to identify any weaknesses or areas for improvement.
Jimmy: Yes, Naomi. Independent auditors play a crucial role in maintaining transparency and accountability within organizations, which helps build trust among investors and the public.
Naomi: That’s correct, Jimmy. Companies often hire independent auditors to perform annual audits as part of their regulatory requirements or to provide assurance to investors and lenders.
Jimmy: Exactly, Naomi. Independent auditors follow strict professional standards and ethical guidelines to ensure the integrity and reliability of their audit findings.
Naomi: Yes, Jimmy. They may also provide recommendations for improving financial practices and internal controls based on their audit findings.
Jimmy: That’s right, Naomi. Independent auditors typically issue an audit report summarizing their findings and opinions on the company’s financial statements.
Naomi: Absolutely, Jimmy. This report is then provided to the company’s management, shareholders, and regulatory authorities for review and evaluation.
Jimmy: Yes, Naomi. Overall, independent auditors play a critical role in promoting transparency, accountability, and trust in the financial reporting process.
Naomi: That’s correct, Jimmy. Their objective assessments help ensure the accuracy and reliability of financial information, which is essential for making sound business decisions and maintaining investor confidence.