Is an accountant the same as an auditor?

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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 businessnair@rediffmail.com . THANKING YOU, YOURS FAITHFULLY, SANTOSH NAIR .
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What is an auditor?

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 ( Full Answer )

Duties of auditor?

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.

What do auditors do?

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 ( Full Answer )

Who is an auditor?

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 ( Full Answer )

Is a 457 the same as an IRA account?

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 ( Full Answer )

Is accounting technology the same as accounting?

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 ( Full Answer )

What is harder to get a Certified Internal Auditor or Certified Public Accountant certification?

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 ( Full Answer )

Is bank account an a bank deposit account the same?

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 ( Full Answer )

What is the role of auditor?

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 ( Full Answer )

Why do auditors need accounting information?

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.

Is income auditor and night auditor same?

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 ( Full Answer )

What are the responsibilities of an auditor?

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.

What is the role of the Auditor?

\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 ( Full Answer )

What is the difference between accountant and auditor?

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.

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 ( Full Answer )

Can 2 toons from the same account be used at the same time?

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 ( Full Answer )

Is accountant and bookkeeper the same?

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 ( Full Answer )

What are the inabilities of an Auditor?

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 ( Full Answer )

Is a checking account the same as a bank account?

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.

How do you crate Neopets on the same account?

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 ( Full Answer )

Is an accountant the same thing as a lawyer?

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.

Is a fiduciary account and an estate account the same?

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 ( Full Answer )

A job of an auditor is?

Their job is to basically look at all your financial records, transactions, payments making sure theyre all valid and legitimate.

Where is 'Auditore'?

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"

What are the functions of auditors?

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. ( Full Answer )

What does the auditor evaluate?

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 ( Full Answer )

What do internal auditors do?

Internal auditors are primarily involved in completing operational and compliance audits, although some perform financial audits of segments of their companies.

What is the different between auditor and accountant?

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.

Is purchases and accounts payable the same?

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.

Will ps3 have the same accounts?

Yes they are going to require new passwords for the accounts and there may be other security procedures

Are deposit accounts the same as savings accounts?

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.

What are the right of auditor?

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.

Are all auditors registered accountants?

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.

Is Google account same as gmail account?

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!

Is an auditor a lawyer or accountant'?

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.

Who is the auditor for IBM?

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).