An audit is performed on the primary financial statements of a company. Here is everything you need to know about the auditing of financial statements. What Are the Statements Typically Audited? Generally, the auditor wants a detailed review of your company. It is achieved by exploring three out of the five main financial statements. These are: … Read more
As an auditor, your main aim is to assess, evaluate and RECORD. Your hard work and analysis become moot without the correct documentation and record. This is why every auditor comes with working papers to keep track of everything. If you are a financial expert, you already know about these papers and their work. If … Read more
When evaluating the company’s financial record, we need professional practices to determine almost-accurate results. This detailed analysis is done to check a company’s financial performance and detect any errors from the history. For finance enthusiasts, the term audit and assurance instantly comes to mind when we think about evaluation. Most people rank audit and assurance … Read more
Having a career in prominent accounting firms is a dream for many people. However, not everyone understands the hype. If you are an accounting student looking for career options or someone established in the field but wants an improvement, the big four are probably a great career choice. You might know about the perks of … Read more
Have you ever wondered how companies run? What system keeps them organized and functional towards hitting the targets and achieving goals? We have a two-word answer for you: Internal Controls. Every business in the world has to have established internal controls to continue in proper order. You can design them yourself or hire a professional … Read more
So you got a degree in accounts and are looking for a job? With an accounting education, there are many opportunities for people to start their careers. From consultation to management and audit, there are so many options out there. If you are thinking about becoming an auditor, a long-lasting career path is waiting. However, … Read more
An accounting firm provides multiple services, from keeping their clients financially organized to taking care of taxes and payrolls. The legality of finances and risks of investments are also a part of the packages accounting firms offer. Whether you just got your degree in finance and are looking for a job or just surfing the … Read more
Professionals and entrepreneurs intending to setup for the long haul appreciate that remaining indefinitely viable means being unwavering in serving up quality to secure customer trust and create an outstanding reputation with all stakeholders in the ecosphere. To achieve this however, they won’t have to re-invent the wheel and adopt a method of trial and … Read more
An entity is made up of parts that combine to produce a synergically operative system whether it is to produce goods or service; for profit or non-profit. To make sure the corporation works like an efficient machine, each part must be well-oiled and work smoothly to support the whole effort. The Human Resource (HR) function … Read more
During conduct of an inspection by auditors, a major chunk of field work in validating management’s representations and collecting proofs takes the shape of corroborating and vouching. Without the auditing of vouching, no investigation is complete and therefore it is imperative to grasp the concept of vouchers and what it means to ‘vouch’ in audit. … Read more