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 …..
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