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What is the role of an auditor?

The role of the auditor or reviewer is to give a professional and independent on these financial statements. The review or audit of an associations financial report can ensure greater accountability to the members and provide an assurance that all funds received by the organisation have been correctly accounted for.

What exactly does an auditor do?

Auditors examine, analyze, and interpret accounting records to prepare financial statements, give advice, or audit and evaluate statements prepared by others. or advise on systems of recording costs or other financial and budgetary data.

How does an audit work?

An audit is an examination of the financial statements of a company, such as the income statement, cash flow statement, and balance sheet. Audits provide investors and regulators with confidence in the accuracy of a corporations financial reporting.

Who can be called as auditor?

(1) A person shall be eligible for appointment as an auditor of a company only if he is a chartered accountant in practice. (2) Where a firm is appointed as an auditor of a company, only the partners who are Chartered Accountants in practice shall be authorised by the firm to act and sign on behalf of the firm.

What do you mean by auditor?

Auditors are finance professionals who perform audits they review financial statements, internal processes, and transaction records to assess accuracy and completeness. Internal auditors typically work for the company they audit and guide management on improving recording and reporting processes.

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