External auditors review a company's financial statements, accounting practices, and internal controls. They provide an objective assessment of the organization's financial reporting, often as part of a statutory requirement. Their objective evaluation helps stakeholders, including investors and regulators, understand the financial health of a business. External auditors are usually hired by the company but operate independently from its management, offering assurance about the integrity of financial statements. Their audits may also include examining compliance with specific industry regulations and standards.