Explain the different between Auditing and Accounting?




The main points of difference between auditing and accounting are as under:

1.                 Meaning:
Auditing means examining the books of accounts and reporting on their accuracy while accounting means the maintaining of the books of accounts.

2.                 Performance of work:
Auditing job is performed by the auditor. Accounting job is performed by the accountant.

3.                 Appointment:
Auditor is appointed by the shareholders. Accountant is appointed by the management.

4.                 Nature of jobs:
Auditor job is not so mechanical in nature. Accountant job is a mechanical nature.

5.                 Qualification:
For the auditor specific qualification is required, while for the accountants no specific qualification is required.

6.                 Responsibility:
Auditor responsibility is faxed by law whereas accountant’s responsibility is fixed by management.

7.                 Submission of report:
Auditor is required by law to submit the report. Accountant is not required to submit any report.

8.                 Fixation of rights:
Rights and duties of auditor are fixed by law. Rights and duties of an accountant are fixed by the management.

9.                 Removal:
Auditor cannot be removed till be completes his period of appointment. Accountant can be removed from his job at any time
.
10.            End and start:
Auditing begins where accounting ends.

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