Gartner defines the external audit services market as professional services dedicated to providing independent evaluations of an organization’s financial statements and controls. These third-party-managed services ensure accuracy, reliability and integrity of financial reporting, while enhancing transparency. The market encompasses service providers that offer expertise in financial statement audits. Auditors’ independent assessments aid stakeholders in making informed decisions based on the financial health, regulatory reporting requirements and compliance status of the organization. This oversight minimizes financial mismanagement and fraud, thereby protecting the interests of all stakeholders involved. Audit services are regulated by professional bodies and standards boards, and auditors must adhere to strict professional standards and ethics to maintain their license and practicing rights.
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