Auditing
Auditing is a critical examination of financial records and statements to ensure accuracy, compliance, and transparency. Conducted by independent auditors, it assesses whether a company's financial statements are a true and fair representation of its financial position. Auditing helps in identifying discrepancies, fraud, or inefficiencies within an organization's financial practices. It boosts stakeholder confidence by validating the integrity of financial information, which is essential for investors, creditors, and regulatory bodies. Beyond compliance, auditing offers valuable insights for improving internal controls, operational efficiency, and strategic planning, making it an indispensable tool for maintaining corporate accountability and fostering trust in financial reporting.
