Question

What are the responsibilities of the company’s auditor? Which part of a company do you think needs auditing more financial records or operations? Explain. Please answer in your own words. Do not use outside resources.

Answer 1

Responsibilities of Companies Auditor:

1.All the functions of the unit shall be audited and shall develop a familiarity with the organization.

2.An auditor shall pre-plan the audit in accordance with the scope and complexity of the area which is under review.

3.An auditor shall perform the assigned tasks in an independent and self-directed fashion.

4.The task shall be completed in timely, accurate and well-documented manner.

5.An auditor shall conduct himself in a professional manner at all times; also shall avoid those situations which can lead to criticism by the area being audited or by the general public.

6.Friendly and cooperative behavior with the audited area’s staff.

7.The auditor shall request files which may need.

8.An auditor shall return all files/record to the person or area from where it was obtained.

9.The auditor shall maintain records at all time in the same or better condition in which they were found.

10.The auditor shall retain all the records in premises. They shall never remove any vital documents from the premises.

Revenue and Operations Department needs more auditing as day-to-day activities are undertaken in operations department.