Auditing

The management prepares the books of accounts. In large-scale business journal is divided into various parts. There is purchase journal for recording credit purchases. There is cash journal or cashbook…

What are Advantages and Disadvantages of Partnership business? According to Business Act, 1932, Partnership is a relation which subsists between persons carrying on business in common with a view of…

What is Ledger? Ledger is a book or place where classified, a record is maintained, the transactions relating to an account are posted from journals. When business is small one…

The division of labor has become possible due to the industrial revolution. The large-scale companies were formed to do business. The capital was collected from the general public through sate…

A person shall be qualified for appointment as an auditor if he is a chartered accountant within the meaning of the Chartered Accountants Ordinance 1961. He can be appointed as…

What are essential Qualities of an Auditor? As we know that an auditor is a watchdog means that he appointed to look after the interest of shareholders or owners of…

What are Rights of An Auditor? The auditor cannot do anything directly for prevention of errors and frauds. He can advise his client about ways and means to prevent errors…

What are Duties of an Auditor? The auditor is responsible for detection and prevention of errors and frauds. He knows his duty to detect errors and frauds. He takes such…