M.K. Lal

Auditing is an accounting process used in business. It uses an independent body to examine a business’ financial transactions and statements. The ultimate purpose of this form of auditing is to present an accurate account of a company’s financial business transactions. The practice is used to make sure that the company is trading financially fairly, and also that the accounts it is presenting to the public or shareholders are accurate and justified. The results of the audit procedure can be presented to shareholders, banks and anyone else with an interest in the company. One of the main reasons for a financial audit is to ensure that the trading company is not practicing any deception. This is why it is done by an independent third party. The present book is an effort to collect all relevant information in one place to help teachers, students and scholars in the field of auditing and financial management.