public sector audit is different from private sector audit
what is the importance of public sector accounting
ANSWERS
Simply stated, the joint sector is a form of partnership between the public sector an the private sector
Public sector banks are banks that are owned by the government of India. The most important use of public sector banks is the fact that, it is used by the government to dispense the pension amounts for the retired employees of state and central government if India.
Government accounting and government auditing are closely related functions within the public sector. Government accounting involves the systematic recording and reporting of financial transactions, ensuring that public funds are managed transparently and in accordance with laws and regulations. In contrast, government auditing assesses the accuracy and compliance of these financial reports, evaluating the effectiveness and efficiency of government operations. Together, they promote accountability and transparency in the use of public resources.
public sector
A sector in which the public can budget
Accountability is very important in the public sector. All civil servants and employees must be held accountable for their actions, in and out of office.
the public sector necessity
Accounting is undoubtedly important in a public sector:Helps in rendering superiority for procuring resourcesSupplies products and services through adherence of the budgetManages public money with accuracy
The difference between public sector and private sector is that when you're in the public sector you work for the government whereas private sector is not. Same applies to accounting.