Auditing refers to the process of examining financial reports and documents of an organisation by a third party, independent of that organisation. Auditing is closely related to Accounting, so auditors are typically accountants or economists who specialise in evaluating financial statements of businesses in order to ensure the accuracy of the information.
Internal auditing helps an institution to accomplish its objectives, by bringing a systematic economical approach to evaluate and improve the performance of risk management, control and governance processes. External Auditing happens with people coming from outsie an organization to examine financial records and present an independent overview of the company’s financial health or legality of practices.
While studying Auditing, you will develop key skills and abilities related to numeracy and mathematical aptitudes, business acumen, economical and financial knowledge, general IT skills, self-motivation, attention to detail, as well as good time management and communication skills.
Auditing studies also include a lot of Accounting and Finance knowledge. To be succesful you will need a solid background of professional economical experience and understanding of the financial life and inner workings of financial depertments of companies and institutions.
Internal auditors typically work in the private sector, independently, or as members of an accounting team. Their services are employed by trading companies, professional firms outsourced by client companies, corporations, charity organisations, and others. External auditors usually work for governmental bodies or as associates of certified accounting offices.Read more