External Auditors inspect clients’ accounting records and express an opinion as to whether financial statements are presented fairly in accordance with the applicable accounting standards of the entity, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). They must assert whether financial statements are free of material misstatement, whether due to error or fraud. The resulting audited financial statements are then examined by a variety of external users, including investors, creditors and government bodies. In addition to performing audits, External Auditors often provide various tax and consulting services. These can be individuals, small businesses, corporations, government bodies or not-for-profit organizations. External Auditors may work for public accounting firms or be self-employed.