An audit of management performance with regard to external strategies helps you identify problem areas and lets you correct strategic approaches that are not effective.

An assessment of the external environment shows you where change has happened and where your strategic management no longer matches the demands of the marketplace. You can improve business performance by periodically conducting such an audit.
Guidelines for an external audit to ensure quality assurance specify the policies and procedures associated with assessing and verifying the reported data. In contrast, internal audit guidelines describe how to collect, manage and report the data. 

Additionally, these external guidelines examine the underlying systems. Guidelines for an external audit instruct auditors on how to assess a company's current performance and ability to reliably meet quality criteria. Quality management professionals execute financial statement, compliance or operational audits to help companies manage risk, control quality and limit legal liability. 

External auditors don't work for the companies they audit and must bring any indications of fraud to the company manager's attention.