The main objective of this paper was to asses external audit practice in Addis Ababa, and tornunderstand its shortcoming and its better performing aspects. To do this the authorrndistributed close ended questionaries to samples that were selected utilizing simple randomrnsampling from employees of external audit firms that were in operation in Addis Ababa and inrnorder to have a consistent response the questionaries were chosen to be close endedandrnconducted one on one interviews with people that are currently operating in sector or arernutilizing its services in order to have a more personalized outlook to the practice. The authorrnutilized quantitative and descriptive research methodologies to achieve the mentionedrnobjective. Through distributing 232 questionaries and collecting around 195, the rest couldnâ€™trnbe collected or were deemed to be unfit by the author and conducting an interview with 33rnwilling individuals the author was able to get a good picture of the current standing of thernsector in the capital city. By utilizing SPSS, the author was able to quantify the responses ofrnthe auditors that participated in the self-administered close ended questionaries and byrncombining the obtained results from the questionaries with the responses the author obtainedrnfrom the interviews and utilizing descriptive analysis tools the author was able to concludernthat the sector currently faces a lack of oversight from the government or from any other bodyrnbut the practice in the sector has largely remained consistent through common practice ,rnassistance form the governmental is nonexistence. Auditors that are currently part of thernsector showed a positive inclination towards most positive practice elements of the practicernbut the lack of enforcement and training schemes has led the sector to be deficient. Thernsolutions for most issues in the practice appear to be strengthening government oversight inrnthe practice and training participants so that they are up to date with world standards.