The External Auditor Assessment Tool is designed to assist audit committees in carrying out their responsibilities of appointing, overseeing, and determining compensation for the external auditor. The tool contains sample questions to help committees in four specific areas:

• quality of services and sufficiency of resources provided by the engagement team;
• quality of services and sufficiency of resources provided by the audit firm;
• communication and interaction with the external auditor; and
• auditor independence, objectivity, and professional skepticism.

The tool also includes a sample form and rating scale for obtaining input from company personnel about the external auditor, as well as resources for additional reading.