fied then the auditor or the firm will have their practising certificate withdrawn as a last resort. The typical structure of an audit department in an audit firm is shown in Figure 2.1. External auditorâs reports to users and to management Audit reports are the end product of the work and must be completed to the highest standard.
The Piedmont area was developed for industry, based on using the water power of the fall line. With the advantage of the Catawba River, Lincolnton was the site of the first textile mill built in North Carolina, constructed by Michael Schenck in 1813. It was the first cotton mill built south of the Potomac River.
Industry in the South. Many factories in the South were built to serve farmers' needs by processing crops such as sugarcane. In 1803 the nation's first steam-powered sawmill was built in Donaldsonville, Louisiana. This new technology enabled lumber companies to cut, sort, and clean wood quickly. By the 1840s, entrepreneurs in Georgia began investing in cotton mills. In 1840, there were 14 cotton mills; by the mid-1850s, there were more than 50.