Accounting involves collecting, recording, analyzing, and interpreting financial transactions, and preparing profit and loss statements, balance sheets, and other reports. Auditing examines accounting books and documents to verify the accuracy and fairness of financial reporting and compliance with regulations, and auditors prepare reports for owners and shareholders at the end of their work. While accountants record transactions and report to management as employees, auditors independently verify account books and report to owners.

4. Accounting Auditing
» Auditing is the act of
examination of books
of accounts and
evidential documents,
so as to prove the true
and fair view of
profitability and
financial position.
» Accounting is the
act of collecting,
recording, analyzing
and interpretation
of financial
transactions.

5. »Work of
accounting
begins when
financial
transactions
take place.
»Work of
auditing
begins when
work of
accounting
ends.

6. » Accounting
prepares profit and
loss account and
balance sheet and
other statements
as per the
instruction of
auditor.
» Auditing checks the
books of accounts
considering their
fairness as well as
complying with the
provision of
company act or not.

7. »Accounting
keeps the
record of
financial
transactions.
»Auditing
checks and
verifies the
books of
accounts.

8. »An accountant
is a staff of an
organization
and draws the
salary from the
business.
»An auditor is an
independent
person who is
appointed for
specific period and
gets a sum of
remuneration.

9. » An accountant does
not prepare report
after the
completion of his
task but he has to
give information to
the management
when needed.
» An auditor needs
to prepare and
present report
after the
completion of his
work to the
concerned
authority.

10. »An accountant
remains
responsible to
the
management.
»An auditor is
responsible
to the
owners or
shareholders.

11. Thank You!!!