External Regulators and External Audit

Regulators and External Audit are two distinct bodies external to the organisation:

Regulators are government agencies or authorities responsible for creating, implementing, and enforcing laws and regulations/ industry standards. They aim to protect markets, consumers, investors and prevent fraud, financial crimes, and other misconduct.
External auditors are independent professionals or firms engaged by a company to examine its financial statements, internal controls, and accounting practices.

Expected Activities​