Is an accountant the same as an auditor?
NO ,an accountant I mean anybody who looks after your books of accounts is not the same as an auditor .He is only entitled to MAINTAIN your books of accounts as per the provisions of the Income Tax Acty 1961.An auditor on the other hand as per the provisions of the ACT ( Income Tax Act 1961) is a qualified CHARTERED ACCOUNTANT and is only then entitled to audit books of account.To audit means to correct ,verify and valuate the books of accounts.It includes the duties to see whether the entries have been passed correctly and to the correct ledgers,to verify whether the assets and liabilites really exist ,and to accurately conduct their valuation ,also to see whether the valuation which is previously done by the management is correct or not . The biggest difference between an accountant and an auditor is that an accountant is your employee and your auditor who is necessarily a C.A is your consultant .These two positions are never the same. Hope this may have solved your question ,if not feel free to contact me on my email id firstname.lastname@example.org . THANKING YOU, YOURS FAITHFULLY, SANTOSH NAIR .
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An auditor is a professional that accumulates and evaluates evidence to report on the degree a company's assertions comply with an established set of procedures or standards (criteria). Use of the title certified public accountant (CPA) is regulated by state law and individuals using this designatio…n must be licensed in the state they practice auditing. Each state has their own regulations for becoming a CPA. There are four primary types of auditors: certified public accounting firms, government accountability office auditors (GAO), internal auditors, and internal revenue agents. ( Full Answer )
The duties of an auditor may vary depending on the company butthere are some basic duties that include collecting and analyzingdata to determine the financial status. Other duties includepreparing financial reports, inspecting company books, andevaluating financial systems.
An auditor specialises in examining and verifying a set of financial statements by reference to evidence (physical, oral, documentary, etc). When he/she are satisfied that the financial statements are true and fair, the auditor will issue a clean auditors' report; on the other hand, if the financial… statements or the company are detected to show problems (e.g. show signs of fraudulent activity), the auditor's report will also make this clear. ( Full Answer )
An auditor is someone who specialises in examining and verifying a set of financial statements by reference to evidence (physical, oral, documentary, etc). When he/she is satisfied that the financial statements are true and fair, he/she will issue an auditors' report which says so accordingly; if th…ere are any significant problems noted, the auditors' report would also make this clear. ( Full Answer )
a 457 is like a 401k, but it is usually offerred by governmentsrather than businesses. an IRA is an Individual Retirement Account...with the emphasis onindividual. Ira is not typically offered to employees by a business The withdrawal rules of a 457 are different from a 401kalso...there's no 10% pen…alty for taking you money out before 591/2. Local and state government employers offer 457 plans to theiremployees but you have to be careful of costs. A lot of 457 planproviders charge a lot for their plans. These and similar questionsabout 457s are answered also at 457planinfo.com ( Full Answer )
Basically, an accountant makes and keeps records and an auditor checks those records for accuracy.
You are probably referring to the difference between an associates in applied science (AAS) and an associates of arts (AA) or science (AS) in accounting. In this case, the AAS in accounting is a very career oriented program of study designed to give the student all the expertise - particular to the …field - they need to gain employment in entry level positions upon completion of the degree. While there are some general education courses required, they are limited to allow a greater number of professional phase courses particular to accounting. The AA (and to a lesser extent the AS) degree is much broader in scope and well balanced between a liberal arts background with some professional phase courses required as prerequisites for the higher level courses at four year institutions. OK, the bottom line is this. If you do not intend to go for a bachelors degree in accounting, then the AAS in accounting is fine. However, most AAS degrees in accounting do not transfer well to four year colleges and universities (unless they have a special articulation with the school) should you want to pursue a bachelors in accounting at a later date. In today's work environment you really should pursue the bachelors degree. In this case, at the associates level, a degree in straight business is usually the best. It has a good balance of general education courses that are required within the general cluster area at the bachelors level, along with the appropriate professional phase courses. The AA is designed for transfer to four year colleges and universities. ( Full Answer )
I have both the Certified Internal Auditor and the Certified Public Accountant designation. I found the CPA exam much more difficult than the CIA exam. Just have a look through the study material for each of these exams and it will be apparent enough to you. The subject matter convered on the CPA ex…am, particularly as it relates to financial reporting and governmental accounting, is very difficult. The simulation questions on the CPA exam can be very complex, particularly as they relate to Taxation. I also have the CFE designation. That exam is ridiculously easy, on a high school level, really. The ACFE should make it more rigorous to maintain the significance of the designation. I figure that the ACFE is still trying to grow their membership and must make the exam easy for now, but that should change with time. If you are looking for a rudimentary test that will require no more than 50 hours of your time in test preparation, go for the CFE. Also, let's be real here. Being a CIA (what's that?) is okay, but it is no where close to being a CPA in terms of meaning, prestige, and pay. What is the first question that comes out of someone's mouth when you tell them you are an accountant or an auditor? "Are you a CPA?" NOT "are you a CIA?" Sorry, fellow CIA's, but few people care that we are CIA's, even in the world of internal audit. Hiring managers care greatly if you are a CPA. I had my CIA designation before my CPA license, and I found myself constantly explaining to people what "CIA" stands for. Don't get me wrong. It is a fine designation. For now, though, it is relatively unknown, and is inferior to being a CPA. In the world of accounting and finance professionals, you are relegated to second class status for not being a CPA, sort of a "Oh, you couldn't hack the CPA route, huh?" Like that. I was a "C" accounting student some 30 years ago, and I was able recently to pass the CPA exam on first attempt by studying 250 hours per exam section. I used Gleim. It's cheap and easy to use. That's right, a total of 1,000 study hours, repetitively answering software questions over and over until getting a 90% or better on a 50-question practice test for each section. If you do that, you will pass each section of the CPA exam on first attempt. If you are not scoring at least 90% on the practice tests, don't bother taking the exam, as you probably won't pass. Do yourself a HUGE favor. I've hired hundreds of audit professionals over the past 25 years. Skip the CIA and save your time, energy and money for the CPA exam. The CPA designation is instantly identified as "the best." It is a highly passable exam if you put the study time into it. ( Full Answer )
No. A bank account can be a checking or savings. It is the account in your name where you deposit and withdrawl funds from. A bank deposit is when you put money into the account either by you walking into the bank and handing them cash or a check and the bank teller processes it to be put into your …account. They are two different things but they are related. ( Full Answer )
The cash account and bank account in the general ledger are not thesame. They are usually two separate accounts that representdifferent transactions. If they were to be the same account therewould be confusion for instance when banking or withdrawal of moneyis done.
An auditor makes sure the business records of a company arecorrect. They help find and correct errors so the company's booksare balanced.
What are the institute of internal auditors examination exemptions for bachelor of accountancy degree holders?
Actually, Bachelor degree is one of IIA requirements to sit for Certified Internal Auditor examination. There is no exemption for candidate who hold only bachelor degree even in Accounting because CIA exam test your knowledge and skill not only in Accounting but also another area of management. If y…ou hold another certification like ACCA or CA you could gain one exemption parts to CIA exam. ( Full Answer )
Auditors need accounting information because their job is tocompile the information and make sure it is accurate. Auditors makesure the numbers add up which is extremely useful information toknow.
Both are actually doing the same thing, depends on the size of the hotel. they divided the daily audit tasks into two parts, which are day and night. A night auditor or income auditor in a 500rooms hotel usually could do both day audit and also night audit since most of the income auditor must has n…ight audit experience. ( Full Answer )
Auditors review a company's financial records and bankinginformation. They make sure the company is presenting the financialinformation accurately, fairly, and in line with generally acceptedaccounting principles.
\nAll businesses have income and expenses. They have to pay their bills. Businesses take inventories. Auditors come in with their computers and see that the checks were deposited in the proper accounts. That the the expenses were put into the correct columns and that the figures are what the managem…ent says they are. It is at that point that fraud may be found. The accountant at Arthur Anderson did not point out that the officials at Enron corporation had stolen money. He was a bad auditor. He did not do his job. ( Full Answer )
An accountant prepares a company's financial statements andreports. They provide a company with its economic situation. Anauditor is usually an independent examiner who reviews a company'sfinancial records.
Yes, YouTube and Google Accounts are the same... It tells you at the top when you sign in to YouTube!
How can the provisions of the Sarbanes-Oxley Act help minimize the likelihood of auditors failing to identify accounting irregularities?
The Sarbanes-Oxley Act of 2002 is considered to be the most important change to federal securities laws in the United States since the New Deal. It came in the wake of a series of corporate financial scandals, including those affecting Enron, Arthur Andersen, and WorldCom. Among the major provision…s of the act are: criminal and civil penalties for securities violations, auditor independence, certification of internal audit work by external auditors, and increased disclosure regarding executive compensation, insider trading and financial statements. While unquestionably useful to the investing public, thousands of companies now face the daunting task of ensuring their operations are Sarbanes-Oxley compliant. Auditing departments typically turn to a two pronged solution to achieve this goal. First, firms initiate a comprehensive external audit of the company by Sarbanes-Oxley compliance consultants to identify areas of risk. Second, firms initiate a company-wide installation of automated software systems that provide the security and electronic paper trails necessary to guarantee compliance on a long term operational basis. Perhaps the most controversial aspects of Sarbanes-Oxley Act are the change from industry self-promulgation and self-enforcement of standards relating to auditing, accounting, quality control, ethics, and independence, to, in effect, government regulation and promulgation of standards through the Public Company Accounting Oversight Board, and the limitations on the nonaudit services a company can provide to its audit clients. Although the Public Company Accounting Oversight Board is not directly empowered to establish accounting standards, Sarbanes-Oxley Act section 108 allows the SEC to recognize "generally accepted" accounting standards set by private entities. Sarbanes-Oxley Act established the Public Company Accounting Oversight Board, under Securities and Exchange Commission oversight, to be . ( Full Answer )
As far as i know you can't. You can do a single toon from separate accounts on one computer by going through your task manager and ending the TTLauncher.exe (probably named something similar) then you run the launcher again, and sign into a different account. If you try to sign into the same account… it will kick the previous window off. From the Toontown FAQ: Q: Can I play multiple toons simultaneously from the same account? A: Currently we do not allow multiple simultaneous log-ins from the same account. We have considered special pricing for families with multiple users but have not implemented these plans yet. Multiple people can use a single account to play different toons (each account can hold up to six toons), but not at the same time. You will need to purchase a separate account for each person who wants to play at the same time as the others. ( Full Answer )
Basically in some ways they are. . An individual who is an accountant, is required to inspect, keep, or adjust accounts. An example of such a person might be a Certified Public Accountant. . An individual who may be a bookkeeper, is in charge of keeping a systematic record of business transaction…s. An example of this person might be a private business owner. . So, in the respect that both individuals may work with numbers, adding machines, account ledgers (or books). . You can see that there are also different processes that each individual is in charge to handle. ( Full Answer )
Check the following links: . 1. ezinearticles.com/? Profit-and-Loss - Account ... - 9 hours ago . 2. hbp-sa.pl/en/.../the_opinion_of_the_independent_statutory_gk.pdf . 3. www.primeacademy.com/questions/pe2/Auditing-PE2-may08.pdf . Muhammad Imran
Auditor is an expert professional with sufficient resources to be able to form an opinion on the financial statements. During the course of audit if they are exposed to technical areas beyond accounting / auditing, eg. engineering, IT, etc. they seek assistance from experts in that particular field …to aid them in their audit. Auditors do not have the ability to fly in the sky :) Hope this helps! ( Full Answer )
A checking account is a specific type of bank account, but there are other types. A checking account is a transaction account where you can write checks against the funds in the account. Other types of bank accounts are savings accounts, money market accounts and certificates of deposit.
You can have up to 4 pets on the same account. Pets can be created through the 'create a pet' link found under the 'my account' tab at the top of the page. You can also adopt pets from the pound (found under the pet central tab) or transfer pets between your accounts through the transfer option in t…he pound. ( Full Answer )
No, an accountant keeps track of money, for example, accounts receivable, paying bills, doing payroll, figuring out your taxes. A lawyer deals with your legal problems, or does your will or represents you in court if you are charged with a crime, or accused of wrong doing in a civil case.
A fiduciary is one who owes a duty of good faith, trust, confidence and a high standard of care in managing the property and money of another. An executor or administrator of an estate is a fiduciary. Therefore an estate account is also called a fiduciary account. The short answer to your questio…n is yes. ( Full Answer )
Their job is to basically look at all your financial records, transactions, payments making sure theyre all valid and legitimate.
Auditore is a small villa situated in Pesaro e Urbino, Marche, Italy. It's geographical coordinates are: N: 43, 44', 0" E: 12, 34', 0"
Auditors are supposed to plan and perform the audit to obtain reasonable assurance that the financial statements presented by management are free of material misstatement that are caused by error or fraud. They only provide reasonable assurance not a guarantee that there is no misstatement or fraud.… If they auditor is auditing a public company they also have the responsibility to evaluate internal controls. In other words the auditor plans and audit, gathers evidence, and then makes a report stating whether or not they believe the financial statements are presented fairly. ( Full Answer )
An auditor evaluates the extent an assertion complies with specific rules or procedures. Auditor's do not ensure the accuracy of a company's accounting books nor do they ensure against fraud and general accounting errors. An auditor that is auditing a companies financial statements evaluate whether …the company's assertions, which are the financial statements, contain any material misstatements. ( Full Answer )
the audit work papers will generally include a written description of material unexpected differences, an explanation for the difference, evidence that corroborates the explanation, and the judgment of the auditor as to the adequacy of the explanation.
What does an auditor consider when developing an explanation for an unexpected change in account balances?
When developing an explanation for an unexpected change in account balances, an auditor considers both error and nonerror explanations.
Internal auditors are primarily involved in completing operational and compliance audits, although some perform financial audits of segments of their companies.
Accountants and auditors in bank holding offices earned a mean annual salary of $54,350 in 2001
Accountant is the person responsable for maintaining books ofaccounts while auditor is the person who examins the books ofaccounts and determines the true and fairness of books of accounts.
If purchases are made on credit then accounts payable are createdon the other hand if purchases are made on cash then there is noaccounts payable created so both of these are not same butinterrelated.
Yes they are going to require new passwords for the accounts and there may be other security procedures
A savings account is a type of deposit account - an account at a financial institution such as a bank or credit union, where the account holder may make deposits and/or withdrawals.
Bad debt expense account is the actual expense account for baddebts while allowance for doubtful account is the provision foraccount in case of any bad debts occurs in future.
1.Right to access books & records of company and branch. 2.right to receive information & explanation. 3.right to sign audit report. 4.right to receive notice & attend general meeting. 5.right to heard at the meeting. 6.right to lein. 7.right to give written representation.
No, auditor is a title. There are IRS auditors, insurance audiors, etc. and their job functions may be totally different. Most auditors do have accounting, budgeting or other financial experience or education.
I hate pokerist they cheat and don't buy them chip cause once you do you wil not get any good hand for a freaking long time.
in a way, yes, but what i would say is gmail is only a small part of a google account. although you usually sign up through gmail, google accounts gives lots of things to you. like for example, google documents. au revoir!
There is no real problem with this - you might actually find it is more convenient to do your banking all in one place, and some banks offer special perks to those who have multiple accounts (even business and personal combinations).
Most auditors are going to be auditing financials. That puts an accountant in a better place for being an auditor. For other audits it may not matter.
IBM accounting audits are governed by the Audit Committee which reports directly to the board of directors. The Audit Committee works with both the IBM in-house accounting department heads and an external accounting audit team (currently Pricewaterhouse Coopers LLC).
Your username for the account doesn't have to be the same as the email address. But when you log in, you need to use your email address, not username to sign in.
No, Google and Microsoft accounts are kept separate. They are,after all, belonging to two different companies.
I want to open another account on this computer.how do i get logged in withmy own account?