It becomes necessary for a company to maintain their transaction records because there are many ways when the government can intervene and want to check if the transactions they show regarding which they pay the tax are proper or are they bluffing the tax heads. So, therefore, this particular process of reviewing the records of a specific organisation is called Audit. Well, audits happen for various reasons, such as to ensure that the organisation is abiding by the laws or just a routine check through the transactions. Auditors are professionals, but every auditor isnâ€™t the same. Even after working under the same title, their area of work differs, and hereâ€™s a list of different types of auditors:
- External Auditors: this particular auditor can make or break a companyâ€™s reputation because they have all the right to comment on the companyâ€™s integrity after seeing through the records. They check through all the details like the financial statements and whether the documents are genuine and maintained in chronological order.Â
- Internal Auditors: these auditors are appointed by the company to make sure that the performance of their clients, the financial accounting system are all in check. Accounting firmÂ sunshine coast do provide interior auditors who make the work even crisper and more manageable and more systematic.
- Government auditors: these auditors solely work for the government and report. Thus, based on their work, the government makes budgets and manages policies.
Apart from them:
Though these three types of auditors are for the frontline of their profession, there are other variants as well, like that of- Independent auditors, priority auditors and so on.Â