NOTES AUDITING B.COM PART 2 PUNJAB UNIVERSITY
AUDITING PANEL 1 Topics Include:- 1 Difference between Accounting & auditing. 2 Objectives of auditing 3 Advantages of an audit. Q # 1 : Difference between Accounting & Auditing. Difference between accounting and auditing work should be clear because nature, scope and type of work are different in both fields. Accounting: “Accounting is an art of recording the business transaction in the books of accounts and to prepare a financial statement”. Auditing: “The auditing is the examination and checking of accounting records and financial statements”. Process of accounting ...
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