Ответить письменно на следующие вопросы:
What is auditing?
What is internal auditing performed by?
Who wants assurance in the reliability of the accounting reports?
Because accounting affects people in many different fields, public accounting and private accounting include specialized services.
Auditing is the accounting profession's most significant service to the public. An audit is the independent examination that assures the reliability of the accounting reports that management prepares and submits to investors, creditors, and others outside the business. In carrying out an audit, CPAs (Certified Public Accountants) from outside a business examine the businesses financial statements. If the CPAs believe that these documents are a fair presentation of me business's operations,, the CPAs give a professional opinion stating that the firm's financial statements are in accordance with generally accepted accounting principles, which is the standard. Why is the audit so important? Creditors considering loans want assurance that the facts and figures the business submits are reliable. Stockholders, who have invested in the business, need to know that the financial picture management shows them is complete. Government agencies need accurate information from business.
Internal auditing is performed by a businesses own accountants. Many large organizations maintain a staff ofinternal auditors. These accountants evaluate the firm's own accounting and management systems. Their aim is to improve operating efficiency and to ensure mat employees and departments follow management's procedures and plans.