AUDITING ….

Auditing is an examination of accounting records undertaken with a view to establishment whether they correctly and completely reflect the transaction to which they purport to related .

OBJECT OF AUDITING …

1. MAIN OBJECT ; VERIFICATION OF ACCOUNTS AND FINANCIAL STATEMENT

2. SUBSIDARY OBJECT ; DETECTION AND PREVENTION OF FRAUD AND ERROR

FRAUD ; MISAPPROPRIATION OF CASH AND MISAPPROPRIATION OF GOOD MANIPULATED OF ACCOUNTS

CLASSIFICATION OF ERROR

ERROR OF PRINCIPLE

ERROR OF OMISSION

ERROR OF COMMISSION

ERROR OF DETECTION

COMPENSATION ERROR

AUDITOR IS A WATCH DOG NOT A BLOOD HOUND

AN auditor is a watch dog ; the auditor must take care of interest of the owner of the business

an auditor is blood hound ; duty of auditor is not blood hound

thnku …..