Difference between auditor and auditing

Accounting and auditing draw from the same talent pool and, for the most part, require similar skill sets

However, subtle differences exist

Accounting requires a person who is more detail-oriented and focused

Small mistakes can cost millions, particularly for large companies dealing with massive sums of money

In this type of Auditing, the entity’s management determines the work area

On the contrary, an external audit is obligatory for every organization or separate legal entity

A third party is brought to the firm to perform the work and Audit process