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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.

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.

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 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 do local government auditors do?

Auditors help add to the transparency and accountability of an organization, its leaders and its employees. We provide objective evaluation of processes, programs and events in order to provide assurance that an organization is effective and efficient.

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What is an example of an auditor?

Practical Example An auditor is in charge of auditing the financial statements of Company ABC at the end of the year. After carefully auditing in ance with the generally accepted auditing standards, they are able to ensure the companys statements are free of material misstatement.

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