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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