Audit

Auditing is the process of reviewing and investigating different aspect of a business, whether financial or nonfinancial. Auditing mainly deals with objective examination and evaluation of the financial statements of an organization to make sure that the records are a fair and accurate representation of the transactions they claim to represent. It can be done internally by employees of the organization, or externally by an outside firm. Internal auditors are employed by the company or organization and they provide information to the board, managers, and other stakeholders on the accuracy of their books and the efficacy of their internal systems. An external audit is an independent examination of the financial statements prepared by the organisation. The main responsibility of external audit is to perform the annual statutory audit of the financial accounts, providing an opinion on whether they are a true and fair reflection of the company's financial position.

Qualified auditorsare mainly employed in the profession itself. Somejoin civil service or academic field.Auditors can also work for commercial undertakings, industries, municipalities, banks, mines, insurance companies and so forth. Bachelor's degree is the minimum educational requirement to become an auditor at some companies; other employers may prefer a master's degree, such as the Master of Business Administration or Master of Science in Accounting. Generally Auditing degree is done with a combination of accounting and the duration is of three years.