Auditing - How Does It Work?

It can be very easy to get your financial statements out of line and all mixed around. But luckily there is someone you can hire to check over all of your financial records and get them straight for you.  It is called auditing. Auditing is an important part of financial records.  It is also something that an accountant or CPA can specialize in. 

When you are an auditor, you perform an official examination and verification of accounts and records in finance.  When auditing, an auditor examines data, statements, records, operations and performances of a business to create an audit report.  An audit report tests to see if a business' financial statements meet the terms of GAAP (Generally Accepted Accounting Principles). Audit reports consist of the responsibilities of the auditor and directors, state that the GAAP was used, and then the auditors opinion to the business or individual. Many businesses and individuals hire auditors to make sure that they are in check with all of their financial statements and records.  

Here is an interesting blog I found about an auditor.  It's called Life of an Auditor. The author tells us about their life as an auditor working for one of the Big 4.  The author also answers questions he or she receives in the comments.