Introduction to Auditing Theory


Posted by geemiz | Posted in Auditing Theory | Posted on 12-02-2011

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What is Auditing?

Auditing has many definition, but in the business and accounting terminology it is called Financial Auditing. A financial auditing is an accounting process. Independent bodies called the auditors are used to examine an entities financial transactions and financial statements. Its major purpose is to accurately account a company’s financial transaction. The process is being made to ensure that the entity is trading fairly and in accordance with the Accounting Standards so as their issued financial statements will not be misleading for users.