THE AUDITOR AS AN INDISPENSABLE PART OF A PROFITABLE BUSINESS ORGANIZATION

This appears to the business organization that the auditors are the water dog of the company. To have a profitable business organization, the shareholder should appoint the auditors to act as check and balances for the purpose of giving them a true and fair view of their company at any given time. Also the auditors are expected to carry out a valid audit work to have effective in internal control. To have a profitable business organization, the external auditor who is qualified and appointed by the company to audit the financial statement of the company and state opinion on the true and fair view account. The auditor’s duties related to the achievement of profitable business organization by reliable account records and such records are considered reliable when they are prepared according to the accounting standard and the necessary details are provided etc. Without the auditors there will be fraud in the management and this will result to unwarranted loss from the management. Fraud is the main thing to be concerned with the growth and development of financial situations of a business organization.