Question

Define Auditing in financial Management ​

Answer 1

ᴀɴsᴡᴇʀ :-

☞ᴀ ғɪɴᴀɴᴄɪᴀʟ ᴀᴜᴅɪᴛ ɪs ᴀɴ ᴏʙᴊᴇᴄᴛɪᴠᴇ ᴇxᴀᴍɪɴᴀᴛɪᴏɴ ᴀɴᴅ ᴇᴠᴀʟᴜᴀᴛɪᴏɴ ᴏғ ᴛʜᴇ ғɪɴᴀɴᴄɪᴀʟ sᴛᴀᴛᴇᴍᴇɴᴛs ᴏғ ᴀɴ ᴏʀɢᴀɴɪᴢᴀᴛɪᴏɴ ᴛᴏ ᴍᴀᴋᴇ sᴜʀᴇ ᴛʜᴀᴛ ᴛʜᴇ ғɪɴᴀɴᴄɪᴀʟ ʀᴇᴄᴏʀᴅs ᴀʀᴇ ᴀ ғᴀɪʀ ᴀɴᴅ ᴀᴄᴄᴜʀᴀᴛᴇ ʀᴇᴘʀᴇsᴇɴᴛᴀᴛɪᴏɴ ᴏғ ᴛʜᴇ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs ᴛʜᴇʏ ᴄʟᴀɪᴍ ᴛᴏ ʀᴇᴘʀᴇsᴇɴᴛ

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Answer 2

A financial audit is an objective examination and evaluation of the financial statements of an organization to make sure that the financial records are a fair and accurate representation of the transactions they claim to represent.