Question

Auditing begins where accounting ends explains

Answer 1

The word audit is derived from the Latin word “AUDIRE” which means to hear. Initially auditor was a person appointed by the owners to check account whenever the suspected fraud, he was to hear explanation given by the person responsible for financial transactions. Emergence of joint stock companies changed the approach of auditing as ownership was pestered from management. The emphasis now is clearly on the verification of accounting date with a view on the reliability of accounting statement.

Answer 2

person from the   examination of an entity's accounting records, as well as the physical insp

it is clear that the auditor’s basic duty is to examine the accounts and its arithmetical accuracy. He must ensure than the financial statements depicts true and fair view of the state of affairs of the business. Since, Auditing is a full and critical examination of the books of accounts to find The responsibility of the auditor is to check on the accounts of the business organization. They check on the authenticity of the accounting process and make as assessment on whether they are according the standards required by the book of accounts

Explanation:

• Auditing is a method that is done once the process of accounting is complete for the financial year. It is a method of checking the book of accounts and verifying the various expenditures and purchases that have taken place during the financial year.
• The work of auditing starts after the accountant of the firm has completed his job of entering all the entries in the book of accounts. These records are checked by the auditor at the time of the auditing.  The auditor checks on the correctness of the accounting process and the book of accounts.
• The audit does a thorough checking of all the financial records, books and the assets of the organisation and he must ensure that the book of accounts are clean and give a good idea on the financial situation of the enterprise. The auditor who conducts  the audit should be certified  auditor and who knows his job.  

To know more about auditing

What is auditing and what are the objectives of auditing​

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