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In: Accounting

What does auditing mean in business?

What does auditing mean in business?

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Expert Solution

In simple terms auditing means checking the work done by the management.

The person who checks the work done by the management is known as auditor.

The work done by the auditor to check the work done by the management is known as audit.

The definition of auditing is:

Auditing is an independent examination of financial statements of an entity whether profit oriented or not irrespective of its legal size and form with a view to express the opinion.

ekkarill92 answered 2 years ago
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