Know Few Important Tips on Auditing Assignment

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Best Tips on Auditing Assignment
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• Auditing is a branch of accounts where an
  independent examination is done for financial
  details of the company were profit oriented or
  not. Ever y size of the company needs to be
  audited so that accounts can be properly
  maintained and any irregularities can be found
  and correct as per the law. Auditing is now a
  common phenomenon in most of the corporate
  sectors. For every accounting student, auditing
  is a well-known topic for the assignment. Once in
  a while, you will get a task to prepare an
  assignment on it. But students due to the absence
  of time not able to complete it on their own and
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• Students need to understand that the subject of
  auditing is vital in future growth in finance and
  accounting. Audits need to be done with precision
  and accuracy because it is a generally accepted
  standard created by the governing body so that
  any kind of illicit activity can be noted out.
  The person or group of people involved in the
  auditing are auditors. Different types of
  auditors you must know for your assignment are

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• External Auditor
• Cost Auditor
• Government Auditor
• Secretarial Auditor
• Internal Auditor
• Consultant Auditor
• Further, the basic category of audit which every
  account must learn to write a good assignment are

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• Performance audit
• As it sounds this audit focuses on the
  performance of the company and examines the
  program, operation, and management of the company
  to improve the chances of success to achieve the
  objective.
• Project Audit
• Project audits are performed to find out any
  issues or challenges present in the project
  lifecycle and remove the concerns. Most of the
  time this audit is conducted midways of the
  project so that the output end in the success of
  the project

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• Energy Audit
• An inspection made to analyze the energy flow or
  one can say energy conservation in a building,
  manufacturing plane, or process of work is known
  as an energy audit. This audit is commonly done
  to reduce consumption and control any wastage of
  resources.
• Operations Audit
• In an operation audit, the auditor examines the
  effectiveness, efficiency, and economy of the
  operations by which the business is working to
  achieve its objectives. This audit is commonly
  done to find internal control issues and balance
  the cost for effective function of the business

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• Forensic Audit
• Forensic accounting is a kind of investigative
  audit via which the accountant with good
  credibility and expertise tries to uncover any
  fraud, money missing, or negligence within the
  organization.
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