External auditor
In one sentenceAn independent certified public accountant licensed by the Saudi Organization for Chartered and Professional Accountants (SOCPA) who examines the financial statements and gives a professional opinion on whether they are fairly presented.
Simply put
The external auditor is not an employee of the business: it is an independent party appointed by the owners or the general assembly to examine the financial statements after they are prepared.
The auditor does not guarantee the figures are free of every error, but gives reasonable assurance that they are free of material misstatements, and states this in the report attached to the statements.
Example
A trading business wants financing from a bank, and the bank asks for audited financial statements: the statements are handed to the external auditor, who examines the balances and documents and then issues the report, which is attached to the statements when they are submitted.
Don't confuse it with
Internal auditThe internal auditor works for management all year round, while the external auditor is independent and gives an opinion to the owners and outside parties.