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Auditing is not inherently a luxury; rather, it is a critical process for ensuring compliance, accuracy, and accountability in financial reporting and operations. While some businesses may view it as an optional expense, for others—particularly in regulated industries or those seeking investment—auditing is an essential function that helps build trust with stakeholders. In this sense, it serves as a valuable investment rather than a luxury.
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Accountancy is necessary while auditing is a luxury comment?
I think what you're saying is that accounting is necessary to keep the company's books and records straight ... but auditing is a luxury as it is just validation of the accounting (as well as some other checks around fraud, internal controls, etc.)
Why Accountancy is necessary while auditing is a luxury comment?
accountancy is necessity and it helps us to know the present position of a business.small firms is no need of auditing.on the other hand large firms have a necessity of auditing about it helps to know the real position of the business.there are some large business whose transaction are in large amount can bear the cost of auditing.above the discussion its true that auditing makes the waste of time for small business but auditing is essential to described the duties and responsibility of an auditor.
How is Accountancy necessary but auditing is luxury?
It is necessary for company to maintain books of accounts and that's why accountancy is a must activity but it is not mandary to conduct audit of financial statement for private companies and only necessary for public companies.
What is meant by auditing?
auditing is a review process,usually of accounting procedures
How auditing begins where accounting ends?
Auditing begins where Accountancy ends.
Accountancy is necessary while auditing is a luxury comment?
I think what you're saying is that accounting is necessary to keep the company's books and records straight ... but auditing is a luxury as it is just validation of the accounting (as well as some other checks around fraud, internal controls, etc.)
Why Accountancy is necessary while auditing is a luxury comment?
accountancy is necessity and it helps us to know the present position of a business.small firms is no need of auditing.on the other hand large firms have a necessity of auditing about it helps to know the real position of the business.there are some large business whose transaction are in large amount can bear the cost of auditing.above the discussion its true that auditing makes the waste of time for small business but auditing is essential to described the duties and responsibility of an auditor.
What has the author J Donald Warren written?
J. Donald Warren has written: 'Handbook of Accounting and Auditing' 'Continuous auditing' -- subject(s): Auditing, Internal, Internal Auditing
How is Accountancy necessary but auditing is luxury?
It is necessary for company to maintain books of accounts and that's why accountancy is a must activity but it is not mandary to conduct audit of financial statement for private companies and only necessary for public companies.
What has the author Vivian R V Cooper written?
Vivian R. V. Cooper has written: 'Manual of auditing' -- subject(s): Auditing 'Student's manual of auditing' -- subject(s): Auditing
What is Auditing practices and methodology of firms?
What is Auditing practices and methodology of firms?"
What is meant by auditing?
auditing is a review process,usually of accounting procedures
How auditing begins where accounting ends?
Auditing begins where Accountancy ends.
What is the first step in auditing access to a NTFS folder?
enable login auditing
When was Central Auditing Organization created?
Central Auditing Organization was created in 1942.
What did the Auditing Standards Board do in response to the Treadway Commission report?
The Auditing Standards Board (ASB) of the AICPA issued ten new auditing standards in 1988.
What is the definition of auditing?
Auditing is the examination and evaluation of financial statements to check financial accuracy.
