Audit is the examination or inspection of various books of accounts by an auditor followed by physical checking of inventory to make sure that all departments are following documented system of recording transactions. It is done to ascertain the accuracy of financial statements provided by the organisation. An Auditor is a person who has meticulous eye for detail and possess analytical inquisitiveness. This involves collating, checking and analyzing the data. But Real Life Auditing is different and complicated than what is taught in the class rooms. Now the question is how to match that level of detail in the Auditing Assignments and making it close to the real life auditing.
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