Question

A person appointed for checking the
accounts is known as​

Answer 1

Explanation:

A person appointed for checking the  accounts is known as​ accounting auditor

The accounting cycle is a fundamental process for completing a company’s bookkeeping tasks. Following steps should be taken to complete the accounting cycle;

Identify transactions

Record transactions in a journal

Posting of every transaction

Unadjusted trial balance

Balance worksheet

Adjusting journal entries

All the above steps should be taken and in proper sequence for the proper making of financial statements

Answer 2

The person is known as an auditor.

• As per Section 139 of the Companies Act 2013, it is mandatory for every established business to typically appoint a qualified person as a chief auditor.
• A chartered accountant practicing represents the solitary individual eligible to be nominated as an auditor of a business/enterprise.
• An auditor is conveyed the authority to review the firm's official records in order to ensure that the financial statements reflect an accurate and fair representation of the transactions.