This means that the auditor can have no relationship with the company outside of the audit. This includes that the auditor (s): [substeps] Not hold any interest in the company (not own any of the company's stock or bond offerings) not work for the company in any other capacity.
[header] How to audit [title] Confirm that you are suitable for performing the audit. [step] It needs to be certain that any auditor is absolutely objective in their assessment. Therefore, it is required that the auditor be completely independent from the company.