The main goal of accounting is to provide a company with clear, comprehensive, and reliable information about its economic activities and status of its assets and liabilities. This information is presented in the form of accounting reports like the balance sheet, income statement, statement of changes in equity (also called shareholders' equity statement), and statement of cash flows (also called cash flow statement). By means of accounting reports it is possible to perform the following (list non-inclusive):
difference between audit program audit & note book
Difference between social accounting and social audit?
what is the difference between statutory audit and non statutory audit.
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an audit program may contain several audit plans
Distinguish between internal audit and internal control.
public sector audit is different from private sector audit
Mgt audit is not compulsory under the law .cost audit in certain industry ,it is legally compulsory
In may cases there is no difference between a Safety Audit and a Safety Inspection. Where there is one, it is because a particular company has specified that.
Under HR Audit, audit of HR procedures and process is done while in financial audit, audit of finance related matters are done.
The main difference in a continuous audit and a periodical audit is the amount of time an audit is done. A continuous audit is done many times throughout the year and a periodical is performed once a year. A continuous audit is also expensive because of the amount of time spent doing it.
Cost audit is done to audit the cost elements of unit costs while in financial audit, audit of financial statements is done to find out information provided is true and fair or not.