fied then the auditor or the firm will have their practising certificate withdrawn as a last resort.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.
In 1789 the Pennsylvania legislature placed an advertisement in English newspapers offering a cash bounty to any English textile worker who would migrate to the state. Samuel Slater, who was just finishing an apprenticeship in a Derbyshire textile mill, read the ad. He went to London, booked passage to America, and landed in Philadelphia. On December 21, 1790, the mill opened. Seven boys and 2 girls, all between the ages of 7 and 12, operated the little factory's 72 spindles.