"Auditing is such an examination of the books, accounts and vouchers of a business's shall enable the auditor to satisfy himself whether or not the balance sheet is properly drawn up so as to exhibit a true and correct view of the state of affairs of the business according to his best of the information given to him .
“Auditing is the systematic examination of financial statements, records and related. operations to determine adherence to generally accepted accounting principles, management policies and stated requirement.” - R.E.Schlosser..
Auditing is the verification of financial position as disclosed by the financial statements.
It is the assessment of accounts to ascertain whether the financial statements provide a true and fair view of the financial position and profit or loss of the concerned organization..
Accounting focuses on recording and presenting all financial statements and transactions.
In contrast, auditing focuses on verifying the accuracy of the financial statements and judging if the financial statements genuinely represent the financial position of a business..
There are many types of audit including financial audit, operational audit, statutory audit, compliance audit and so on. current audit industry or practices..
There are many types of audit including financial audit, operational audit, statutory audit, compliance audit and so on. current audit industry or practices..
