Similarities Between Accounting And Auditing
Both Accou nting and Auditing work under proper maintaini n g and c hecki ng of Books of Accou nts . Accounting and auditing procedures, standards, rules and principles are prepared in order to provide professional skills to various organizations (profit maki ng i nstitutions or non profit organizations). Both accou nting and auditing interact wit h each other for proper mai n tai ning and c hecki ng of b ooks of accou nts for t he successful ru nning of b usi ness b y avoidi ng mistakes, errors and frauds. Both use computer software to work efficie ntly and effectively without losi ng muc h time i n preparing and c hecki ng of b ooks of accou nts wit h true, relia b le a nd accurate information useful for Users of Financial Statements . Both have great importa nce in t he field of b usi ness as wit hout proper keepi ng and c hecki ng of b ooks of accou nts, t h e b usi ness resources may not b e utilized efficie ntly and effectively to meet b usi ness’s financ...