Question

difference between accounting and auditing
​

Answer 1

Answer:

The points provided below explain the difference between accounting and auditing, in detail:

1. Accounting is an art of orderly, keeping the records of the monetary transactions and preparation of the financial statements of the company. Auditing is an analytical task which involves the independent evaluation of the financial information to express an opinion on true and fair view.

2. Accounting is governed by Accounting Standards, whereas Standards on Auditing governs Auditing.

3. Accounting is a simplified task, which is performed by the Accountants but Auditing is a complex task, so Auditors are required for performing it.

4. The main purpose of accounting is to reveal the profitability position, financial position and performance of the organization. Conversely, auditing is to check the correctness of the financial statement.

5. Accounting is a continuous activity. Unlike Auditing, which is a periodic activity.

6. End of Accounting is the start of Auditing

I hope it might help you !!

Mark it as brainliest answer and please follow me