Auditing what is the meaning
What is the meaning of auditing types?
There are three main types of audits: internal, external, and government or IRS audits.
Internal audits are made by qualified auditors within the business, external audits are conducted by external third parties, whereas government audits are tax reviews by the IRS..
- The main purpose of auditing is to certify that the accounts have been prepared according to the principles of accounting and to see where the financial statements so prepared reflect a true and fair view of the state of affairs of a business.
Auditing originates from the Latin term “Audire”, which means “to hear,” - just as in ancient times auditors used to listen to officers and people of authority to confirm the validity of their words.
×Auditing is the process of verifying the accuracy and reliability of financial information and other aspects of a business or entity. Auditing can be done by internal or external parties, for different purposes, such as compliance, performance, or risk assessment. Auditing originates from the Latin word "audire", which means "to hear". Auditors examine the evidence and express their opinion in an audit report.
