Auditor vs Accountant

In: Business and Management

Submitted By shabujdu
Words 2363
Pages 10
An accountant is a practitioner of accountancy or accounting, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources.

Auditor is the person appointed to conduct an examination of the records, to form an opinion about the authenticity and correctness of such records, by verifying the correctness and reliability of the recorded transactions from the evidences available, opinion and inference reachable based on his expertise

1 . Duties and responsibilities of accountant

1. Prepare profit and loss statements and monthly or yearly closing and cost accounting reports. 2. Compile and analyze financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions. 3. Establish, maintain, and coordinate the implementation of accounting and accounting control procedures. 4. Analyze and review budgets and expenditures for local, state, federal, and private funding, contracts, and grants. 5. Monitor and review accounting and related system reports for accuracy and completeness. 6. Prepare and review budget, revenue, expense, payroll entries, invoices, and other accounting documents. 7. Analyze revenue and expenditure trends and recommend appropriate budget levels, and ensure expenditure control. 8. Explain billing invoices and accounting policies to staff, vendors and clients. 9. Resolve accounting discrepancies. 10. Recommend, develop and maintain financial data bases, computer software systems and manual filing systems. 11. Supervise the input and handling of financial data and reports for the company's automated financial systems. 12. Interact with internal and external auditors in completing audits. 13. Other duties as assigned

2.…...

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