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What is Auditing practices and methodology of firms?"

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17y ago

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Matters in current issues in auditing?

The matters in current issues are fraud and unethical business practices.


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.


Where auditing ends investigation begins. Explain this statement?

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There is no such thing as the best practices unless you mention your business. Each business has its own set of practices to optimize things. You need to audit your business to see the possible faults that are leading you to failure. read auditing here. businessstudynotes .com/finance/auditing/systems-audit/


What are the big four audit firms?

The big four audit firms are four networks of smaller firms operating under a single brand name. They are PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Enst & Young, and KPMG. Between them, the Big Four control almost all of the auditing on the planet.


How do governments correct for the unfairness of negative externalities?

They regulate firms and make such practices illegal.