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