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Meaning, Features, Some Steps Involved in Auditing (in Hindi)
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Meaning, Features,Steps Involved in Auditing( in Hindi)

Prabhjeet kaur second topper of institute since 5 years and have an 2 years tuition experience I want to become a professor, bank manager.

Unacademy user
thanks sir I was waiting for new spectroscopy lecture
  1. Auditing

  2. Meaning og Auditing Auditing means verification of accounting data and determining the accuracy and reliability of accounting statements and accounting reports. Audit is the independent examination of financial information of a entity and examine the profit and loss of business and examination of books accounts and vouchers of the business.

  3. Some main steps involved in auditing . The role of auditor and his terms of engagement which are decided between client and auditor. Auditor testing the accuracy of records. Theauditor everything evidence in spot of transaction in a The auditor very fine every elements of balance sheet and profit and loss account.

  4. Characteristics of auditing 1. Qualified person: only a qualified person having a degree of Chartered Accountant with certificate of from ICAI having . Background. 2. Independence: the auditor should work independently that is he should be unbiased in his approach and his judgement is not subordinate to wishes of another person 3. Systematic way: financial statement in a proper and systematic manner to give true and fair view.

  5. 5. Financial statements: auditors guides his opinion on financial statements including profit and loss account balance sheet and notes to 6. Client: auditor has its legal status he can be so proprietorship, partnership firm, company trust, etc. 7. True and fair view: the duty of auditor to detect and frauds and guide true and fair views and prevent the errors and frauds