Functions of Auditing

The purpose of this paper is to explain the nature and functions of audited method of accounting, consult them to the audit functions in Enardo, Inc., describe the elements of the Generally Accepted Auditing Standards (GAAS) and how these standards carry out to financial, operational, and entry audits, explain the effect that the Sarbanes-Oxley deed of conveyance of 2002, and the prevalent Comp all write up Oversight Board (PCAOB) leave alone have on audits of publically traded companies, and discuss the additional requirements that are 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 teaching about the entities processes, economic transactions and procedures in an simple manner. The info is therefore evaluated to find out that it follows GAAP o r any other standards that apply. The auditor then compiles a report of their findings to be submitted to the appropriate parties. These processes are comminuted 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 terce parties with an interest in the entity.

The robustness of an entities financial statements and the accuracy of their infixed controls can be truly important in finale making processes; therefore, the need for honest auditing and assurance in these areas is required. Auditing is more often than not performed by an inde! pendent auditor with no ties to the entity being audited. This helps to date 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 extremity to get a full essay, order it on our website: OrderCustomPaper.com

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