Q38 Auditing is the luxury for which organization -
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Answer:
Bro ,idhi artham avthundhi anukunta.
Auditing is necessity of big organizations. Auditing is compulsory in case of Private Limited Companies, Limited Companies, Charitable Trusts, Societies, Banks etc. The partnership firms or proprietorship firms can also engage the auditors to have the fair view of accounts.
Auditing is not wastage of money because so many frauds can be detected from auditing and the money paid to the auditors looks very petty amount in comparison of the frauds detected. Auditing is not the wastage of time also. Normally, auditors do not disturb the the accounting staff. The do their own work. Very few interference is done by them with the accounting staff. The findings or benefits of audit are more precious than wastage of little time of accounting staff. In my view, every business firm whether it is small or big, must avail the services of the auditors.
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Answer:
Auditing is necessity of big organizations. Auditing is compulsory in case of Private Limited Companies, Limited Companies, Charitable Trusts, Societies, Banks etc. The partnership firms or Proprietorship firms can also engage the auditors to have the fair view of accounts.