Independent-Audit Financial Statements / Financial Statement Auditors
Audit the Company they work for / Internal Auditors
Report to Congress or Municipal Governments / Governmental Auditors
Enforce Federal Tax Laws only / IRS Auditors
A company's efficiency is monitored by auditors, who evaluate its financial activities. They are responsible for monitoring cash flow from start to finish and making sure that an organization's funds are correctly accounted for.
An auditor's primary responsibility in the case of public firms is to assess the conformity of financial statements with widely accepted accounting principles (GAAP). In order to fulfill this need, auditors examine financial information, operational aspects of a business, and accounting data while taking thorough notes on each step of the process, known as an audit trail.
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