{"id":107,"date":"2020-01-08T09:23:39","date_gmt":"2020-01-08T09:23:39","guid":{"rendered":"https:\/\/www.cac.net.in\/blog\/?p=107"},"modified":"2024-10-11T16:56:36","modified_gmt":"2024-10-11T11:26:36","slug":"auditor-for-the-evaluation-of-the-company-balance-sheet","status":"publish","type":"post","link":"https:\/\/www.cac.net.in\/blog\/auditor-for-the-evaluation-of-the-company-balance-sheet\/","title":{"rendered":"Auditor: For The Evaluation Of The Company Balance Sheet"},"content":{"rendered":"\n<p>The Auditor carries out an indispensable\nactivity to verify and certify the truthfulness and correctness of the\nformulation of a financial statement. Let&#8217;s see who the Auditor is and what he\ndoes.<\/p>\n\n\n\n<p>What are the professional goals of an\nauditor?<\/p>\n\n\n\n<p>The statutory auditing of the accounts,\ncarried out by the Auditor, is aimed at drafting a document that includes all\nthe details on the assessment of the correctness of a company&#8217;s balance sheet\nand its economic solidity. This activity is carried out to guarantee market\ntransparency, as well as to offer protection to all parties interested in the\nperformance of the company (employees, customers, suppliers, shareholders, tax\nauthorities, etc.).<\/p>\n\n\n\n<p>What specific tasks does the Auditor\nperform?<\/p>\n\n\n\n<p>The activity of the <strong><a href=\"https:\/\/www.cac.net.in\/retail-audit\">Retail audit companies<\/a><\/strong> is complex and can involve long times.<\/p>\n\n\n\n<ul class=\"wp-block-gallery columns-1 is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\"><li class=\"blocks-gallery-item\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"960\" height=\"540\" src=\"https:\/\/www.cac.net.in\/blog\/wp-content\/uploads\/2020\/01\/balance-sheet-241711_960_720.jpg\" alt=\"\" data-id=\"108\" data-link=\"https:\/\/www.cac.net.in\/blog\/?attachment_id=108\" class=\"wp-image-108\" srcset=\"https:\/\/www.cac.net.in\/blog\/wp-content\/uploads\/2020\/01\/balance-sheet-241711_960_720.jpg 960w, https:\/\/www.cac.net.in\/blog\/wp-content\/uploads\/2020\/01\/balance-sheet-241711_960_720-300x169.jpg 300w, https:\/\/www.cac.net.in\/blog\/wp-content\/uploads\/2020\/01\/balance-sheet-241711_960_720-768x432.jpg 768w\" sizes=\"auto, (max-width: 960px) 100vw, 960px\" \/><\/figure><\/li><\/ul>\n\n\n\n<p>Firstly, it carries out a preliminary\nanalysis of the internal control procedures and preparation of the financial\nstatements and continues with the verification of the regulatory compliance of\nthe administrative procedures, accounting records and financial statements.<\/p>\n\n\n\n<p>All the activity must necessarily be\ndocumented, therefore the Auditor is required to prepare the documentation\nrelating to the review process. Finally, he will be in charge of drawing up a\nfinal audit report, containing the overall opinion on the financial statements\nand, possibly, the suggestions addressed to the company management.<\/p>\n\n\n\n<p>What are the characteristics and skills\nthat an auditor must have?<\/p>\n\n\n\n<p>Various and complex technical skills are required from the retail audit firms in Delhi.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>First of all, he must master\nthe legislative and operational aspects relating to the financial statements,\nthe balance sheet, and the income statement.<\/li><li>He is also required to know the\nnational, and international standards for correct business management.<\/li><li>It is important that the\nAuditor also has skills in the field of data collection techniques,\ndocumentation and reporting, as well as having the ability to work on\ninformation and software technologies useful for his work.<\/li><li>As far as personal qualities\nare concerned, the following are very important: precision, rigor and\nconfidentiality (absolute discretion on the information collected during the\nprofessional activity is fundamental).<\/li><li>Knowledge of the English\nlanguage is also functional for carrying out the revision activities,\nespecially the technical terms required by the profession.<\/li><\/ul>\n\n\n\n<p>How do you become an auditor?<\/p>\n\n\n\n<p>First of all, it is necessary to consider that\nto undertake the profession of Auditor it is necessary to register in the\nRegister of Auditors at the Ministry of Justice.<\/p>\n\n\n\n<p>The State exam, held annually and chaired\nby a commission appointed by the Ministry of Justice, can be accessed after a\nthree-year internship , carried out at the study of a Legal Auditor in the\ncontext of the control of financial statements, upon registration in the\nappropriate register of reviewing practitioners.<\/p>\n\n\n\n<p>As far as training is concerned, the most\nsuitable qualification to be able to carry out the internship and take the exam\nis the degree in economics and commerce or in economics and business\nadministration, preferably preceded by an accountancy diploma.<\/p>\n\n\n\n<p>Where does an Auditor work?<\/p>\n\n\n\n<p>An Auditor can also work internally within\nthe company, with a clerical level, but more frequently he works as an external\nconsultant, with his own activity or on behalf of Independent Auditors\nauthorized to certify the company&#8217;s financial statements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Auditor carries out an indispensable activity to verify and certify the truthfulness and correctness of the formulation of a financial statement. Let&#8217;s see who the Auditor is and what he does. What are the professional goals of an auditor? The statutory auditing of the accounts, carried out by the Auditor, is aimed at drafting&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[21,27,25,34,26],"class_list":["post-107","post","type-post","status-publish","format-standard","hentry","category-retail-audit","tag-retail-audit-companies","tag-retail-audit-companies-in-delhi","tag-retail-audit-firms-in-delhi","tag-retail-audit-firms-in-india","tag-retail-audit-service-providers"],"_links":{"self":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts\/107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/comments?post=107"}],"version-history":[{"count":1,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts\/107\/revisions"}],"predecessor-version":[{"id":109,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/posts\/107\/revisions\/109"}],"wp:attachment":[{"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/media?parent=107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/categories?post=107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cac.net.in\/blog\/wp-json\/wp\/v2\/tags?post=107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}