Functions of Auditing

The purpose of this paper is to explain the nature and functions of audited method of accounting, touch base them to the audit functions in Enardo, Inc., describe the elements of the Generally Accepted Auditing Standards (GAAS) and how these standards sacrifice to financial, operational, and entry audits, explain the effect that the Sarbanes-Oxley deed of conveyance of 2002, and the habitual Comp all write up Oversight Board (PCAOB) volition have on audits of publically traded companies, and discuss the additional requirements that argon placed on meeters from this Act as well as the actions of the PCAOB. Auditing is the process by which frugal events and processes are evaluated and verified as true and correct. The auditing process consists of gathering, evaluating, and reporting. The attendee gathers training about the entities processes, stinting transactions and procedures in an simple manner. The nurture is accordingly evaluated to take in that it follows GAA P or any other standards that apply. The auditor then compiles a report of their findings to be submitted to the appropriate parties. These processes are faultfinding to the accurate verification and boldness provided by the auditing professional. The auditing of an entity is valuable information used by the entity itself as well as threesome parties with an interest in the entity.

The robustness of an entities financial statements and the accuracy of their cozy controls can be truly important in finis making processes; therefore, the need for honest auditing and assurance in these areas is required. Audi ting is loosely performed by an independent ! auditor with no ties to the entity being audited. This helps to correspond unbiased opinions. The internal auditing functions of Enardo, a manufacturing company, are usually performed at the end of every month. The accounting manager compiles all of the information provided by the various departments and submits it to the chief financial officer for... If you demand to get a full essay, order it on our website: OrderCustomPaper.com

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