External Audits: Independent assessments conducted by third-party auditors to verify the accuracy of an organization’s financial records, compliance with regulatory standards, or the effectiveness of its internal controls. External audits serve to provide assurance to stakeholders, such as investors, creditors, and regulators, that an organization’s financial statements present a true and fair view of its financial performance and position. They can also assess an organization’s adherence to industry standards, laws, and regulations, particularly in specialized areas like cybersecurity, environmental compliance, and quality management.