What Does Auditing Mean?
An Audit Is an "Independent Examination of Financial Information of Any Entity, Whether Profit Oriented or Not, Irrespective of Its Size or Legal Form When...
An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.”
What is the purpose of auditing?
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.
What do u mean by auditing?
Definition: Audit is the examination or inspection of various books of accounts by an auditor followed by physical checking of inventory to make sure that all departments are following documented system of recording transactions. It is done to ascertain the accuracy of financial statements provided by the organisation.
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