Auditing Profession

Auditing Profession


An auditor is a person whose job it is to ensure that organizations are maintaining accurate records. Auditors are hired to carefully go over the accuracy of a business’s records. The auditor’s job is to form an opinion about the business’s records stating whether the statements are accurate or have errors. Auditors need to utilize their best professional judgment when examining records. An auditor’s clients’ businesses can all be different, so all the audits they perform are different, but all following the same common goal. The goal is to evaluate the records of the business to determine if there is anything that needs changing. If there is anything the auditor feels needs changing, then they form a professional opinion.
Auditing and accounting go together. They are similar in some ways and different in other ways. Accounting provides a company with clear, comprehensive, and reliable information about the activities of the company. Accountants identify and measure the status of a company’s assets and liabilities and provide this information to various users. Auditing is an appraisal performed by an internal or external auditor. Auditors analyze, compare and evaluate accounting records to provide a company with recommendations (opinions) based on their evaluation of the company’s records. These two jobs go together because accounting provides financial information to users and auditing is to ensure the financial information is accurate and follows the rules and regulations that it legally has to.
There are many different types of audits. The main types of audits are external, internal, and forensic. External auditing is to provide opinions on the reliability of the financial statement and provide opinions. An external audit is also called a financial audit or statutory audit. An external audit involves the examination of the truth and fairness of the financial statements of a business by an external auditor who is independent of...