Auditing

           

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              Auditing is a procedure that many accountants learn and use in their regular work. Auditing is the process that examines and checks certain financial documents and statements of businesses for accuracy or compliance with the law.  The two main types of auditing are internal audits and external audits.  An internal audit is a practice in which an auditor in the private sector examines financial information of a company.  An external audit is a practice where a public-sector auditor is contracted by a private company to perform an audit.  In addition, there are auditors who work in information technology and managerial positions.  Overall, auditing is an important practice within the field of accounting that serves many people.

                Internal auditing is a very important practice that encompasses a wide variety of material.  Internal auditing is a procedure in which a privately contracted auditor performs an auditing service for a company.  These auditing services can range from risk management reports to the inspection of financial documents.  Overall, internal auditing has great importance and provides functions for many companies. 

External auditing is a practice that differs in some respects from internal auditing, but also, it is still important.  In the practice of external auditing, a company contracts out or hires a public auditing official to perform a service for that company.  Also, many services exist that can be provided by external auditors such as financial examinations or inspections.  Overall, external auditing is an important practice that fulfills many needs in our modern economy. 

In addition to basic internal and external auditors, there are many other careers within these fields.  Information technology auditors and audit managers are two important careers within the fields of internal and external auditing.  An information technology auditor is someone who examines the technology and electronic or book information of a company.  An audit manager is someone who manages and oversees many transactions and other financial data in a company.  Overall, these two jobs are great examples of the many jobs in the field of both internal and external auditing.

In general, auditing is an important practice that is useful to many companies throughout the world.  Auditing is a practice in which an audit worker checks financial information of a company for accuracy or compliance with the law.  The two main types of auditing are internal auditing and external auditing.  There are many careers within auditing such as information technology auditor and audit manager.  Overall, auditing is a field within accounting that has many different practical uses. 

Sincerely,

Austin Bechtel

Bibliography

“An Overview of Auditing.”  Accounting, http://www.accounting.com/careers/auditing/