what make financial profession popular in nepal. GIVE ANSWER YOUR SELF
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Financial management is one of the major areas of finance. For financial management, a working plan and its effective implementation are necessary. Its monitoring and evaluation should also be done. In organization finance plays a major role. For the above-mentioned work, financial sector is composed of an accountant to account all financial activity, auditor to check the account and a manager. Out of it, auditor and manager are discussed below:
Whether an organization is working in judiciously or not is examined by financial audit. A person who performs financial audit is known as auditor. Accountant keeps the record of day to day financial activity and auditor examines the work of accountant. Financial audit can be internal and external. This check is done to correct the mistakes in account. The audit done’ by the internal auditor with the aim of correction of any mistake is known as internal audit. Complete examination of account is done by external auditor. On the basis of proofs and papers from this check adutior present the report to the management. These make the account judicious and prevent useless expenditures. It helps to uplift the morality and inspires to become honest.
Generally, one who completes their study in BBS or BBA can become an internal auditor. For external auditor, one should complete accounting technician or chartered accountant course. For this one must pass the intermediate or PCL level.
The main role of the auditor is obtaining reliable financial reporting on its operation, preventing fraud and misappropriation of its assets, and minimizing its cost of capital. On the basis of the reported effectiveness of the work of organization and transparency can be known. Thus, they are important to every organization.