What is the auditing?

[niyati]

I wanted to start a discussion around auditing — what exactly it means and why it’s important in the world of accounting and finance.

 

[Gsusangrey]

Auditing is the process of examining and verifying a company’s financial records and operations to ensure accuracy, compliance with regulations, and transparency for stakeholders and management.

 

[Shane Warne]

Auditing is the process of examining and verifying a company’s financial records, operations, or systems to ensure accuracy, compliance, and transparency. It can be internal or external and helps identify errors, fraud, or inefficiencies while boosting trust among stakeholders.

 

[ankita]

Auditing refers to a systematic study and analysis of a financial document, financial statements and procedures of a business. It also seeks to review accuracy, compliance with the laws and standards, identify errors/fraud as well as provide guarantees to the stakeholders regarding reliability and fairness of the reported financial data.

 

[Emly]

Auditing is the process of examining and evaluating financial records, statements, and operations of an organization to ensure accuracy, transparency, and compliance with laws and regulations. It helps detect errors or fraud and provides assurance to stakeholders that the financial information is reliable. Audits can be internal or external, depending on who conducts them.

 

[Jarwish]

Auditing is the systematic examination of financial records, statements, and processes to ensure accuracy, compliance with regulations, and to detect errors or fraud within an organization’s financial activities.

 

[Mayank]

Auditing is the process of examining financial records, systems, and operations to ensure accuracy, compliance with laws, and internal controls. It helps detect errors, fraud, and inefficiencies, providing assurance to stakeholders about an organization's financial integrity.