Validating the truthfulness of the information provided in the financial statements of the company and its compliance with the financial laws is important for every party involved. The company’s interests are in keeping track on its activities and properly evaluating the financial state, and in order to do this it may hire an auditor to ensure internal control of the company’s financial side. The clients of the company or government officials are also willing for the organization to comply with the laws, pay taxes, present accurate data, and not be involved into illegal activities. In such cases, external auditors are involved, and they are researching the company independently.
In order to learn the specific process of auditing, the students have to process a lot of information concerning managerial economics, business analysis, project management, and also knowledge of software used for auditioning purposes. Auditors evaluate the company’s performance both in quantitative and qualitative terms, and state the level of its effectiveness.
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