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Why do Businesses Get Audited?

Nov 24 2015
2
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Here’s some quick and interesting information: The word, Audit, has basically been derived from a Latin word which means ‘to hear’. If you are thinking how this is pertinent to the formal examination of business accounts, then we have the answer. Auditing is the process of hearing out or discovering the inconsistencies that are present within the company’s financial information and ruling out corrective measures to resolve them. This is an extremely important tool for verifying the efficiency and effectiveness of a business’s financial standing.

The Significance of External Auditors

Nov 24 2015
14
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Even if you have an internal accountant or a bookkeeper you totally trust, there are countless reasons why you should also hire an external auditor and get your accounts reviewed. We all are well aware of the fact that there is a great importance of auditing departmental finances as well as the overall accounting function of an organization. Nonetheless, by hiring an expert external auditor, you can be on the surer side that all the numbers are accurate and free from any frauds and misappropriations.

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