Question

define auditing explain its objectives and advantages​

Answer 1

Answer:

Auditing helps in easy finding of errors & frauds from the books of accounts. It is the duty of management to avoid & check errors & frauds. Auditing assures that each & every figure represented in the financial statement is correct. It helps in evaluating every figure of business books of accounts.

Answer 2

Answer:

Auditing simply refers to the evaluation of business books of accounts & vouchers. It is done to make sure whether all the financial transactions are accurately recorded. Auditing helps in easy finding of errors & frauds from the books of accounts. It is the duty of management to avoid & check errors & frauds.

The objective of an audit is to express an opinion on financial statements. To give the opinion about the financial statements, the auditor examines the financial statements to satisfy himself about the truth and fairness of the financial position and operating results of the enterprise.