Question

1. definition of auditing, its objective and advantages. disclose qualities of a good auditor.

Answer 1

Explanation:

a good auditor is the qualities of good objective advantages.

Answer 2

Answer:

An audit an examination of accounting records undertaken with a view of establishing wheather they correctly and completely reflect the transaction to which the purpose to relate.

objectives :

1. account and statement varification
2. checking accounting policies
3. error and fraud detection
4. improve quality of business processes
5. checking assets and liabilities

Advantages :

1. ensure account correctness
2. detect errors
3. keeps morale check
4. assists in decision making
5. access of capital market
6. for valuation of property
7. keep all the record up to date
8. for tax assessment
9. reducing taxable income, cost control
10. for prospective investors

qualities of a good auditor :

1. Creative
2. diplometic
3. understanding data
4. always learning
5. good leadership skills
6. effective communication skill
7. time management