Mechanisms of external financial accountability consist primarily of the external audit of an EMB’s financial activities and statements. Additional external audits may be undertaken on specific financial systems (such as salary payments), or following allegations of corrupt or irregular practices within the EMB. In the latter case, state anti-corruption bodies may also be involved in the external audit.

Many EMBs’ external financial auditing is undertaken by a government audit agency, such as the State Audit Commission in Bosnia and Herzegovina and the Auditor-General in Canada. In Romania and Turkey, external audit of the EMB is by an Audit Court responsible to the legislature. In Portugal, the EMB may be audited by the Ministry of Finance and by the Audit Court. In countries such as Lesotho and Zambia, external auditing of EMB finances is undertaken by private auditing companies, while in Russia, the external audit is performed by the Federal Assembly through its Accounting Chamber.

Audit reports are usually published for public consumption. Once published, the EMB normally incorporates the financial statements within its annual or other reports for submission to the legislature and other stakeholders. In Cameroon, the audited financial reports are tabled in the legislature, while the performance audit is submitted to the president. In Senegal, the independent component of the EMB produces a narrative and financial report of each electoral process which is submitted to the president who makes it public, while governmental component, the elections division of the Interior Ministry, accounts for its activities through its minister.

Review of an EMB’s financial accounts by a committee of the legislature, often titled a Public Accounts Committee, can provide a public demonstration of the EMBs financial integrity. The framework of such reviews needs to ensure that the EMB is questioned fairly, rather than for political advantage. If auditors have identified poor financial management practices, members or senior executives of the EMB may be summoned to explain the circumstances and describe the remedial action that has been taken.

In countries such as Costa Rica, Nigeria, Palestine, and Yemen, the legal framework for financial accountability mechanisms is not clear. Although EMBs in these countries commission auditing of their financial operations, there is no requirement for them to submit reports to any oversight body. However, in Palestine, the EMB tends to circulate its annual reports and financial statements to stakeholders, such as the government, the legislature, and the political parties.

The proposed budgets and audited accounts of the EMB in many countries are subject to review by a committee of the legislature, often titled a Public Accounts Committee or similar. When auditors have identified poor financial management practices, such as inappropriate systems for budgeting, lax controls on payments or procurement, over-expenditure, or misappropriations, this committee of the legislature may summon the chief executive of the EMB to answer questions. This practice prevails in many countries around the world and applies across virtually all institutions which rely on public funding for their operations.