What is the importance of auditing? What are its features?

Auditing is very important in finance world…….

Auditing gives assurance to financial specialists and leasers that organization reserves are handled with properly.

Importance of Auditing :

• Internal Audit
• External Audit
• Fraud Prevention
• Fraud detection
• Cost of Capital
• Compliance audit

Auditing Features :

• Systematic and scientific process
• It implies the Physical Verification of the Assets
• Three-party relationship
• Set up criteria
• Opinion
• Proof
• Topic

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Original Source :  Auditing Importance