What is the difference between Accountant and Auditor ?

Discussion in 'Off-Topic Lounge' started by LorichBrain, Feb 22, 2013.

  1. LorichBrain

    LorichBrain

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    Hi friends I want to discuss with everyone about the difference between Accountant and Auditors . Please share your thoughts and what is your opinion.
     
    LorichBrain, Feb 22, 2013
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  2. LorichBrain

    CoolGuyGeofry

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    As I understand it, an auditor is a specific kind of accountant. An auditor focuses on verifying financial statements for internal and external use. As an auditor, you're focused on finding errors and deception in numbers that already exist, you aren't really producing the financial information.
     
    CoolGuyGeofry, Apr 28, 2013
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  3. LorichBrain

    ayanachan

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    Both an auditor and accountant are specialist in accounting .but the basic difference is only that accountant is an employee of an organization but auditor is who is hired from outside to carry out the audit.
     
    ayanachan, May 22, 2013
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  4. LorichBrain

    Devin

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    Don't forget about the internal Audit.
    Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.
     
    Devin, May 23, 2013
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  5. LorichBrain

    caspergreen68

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    Auditors are the supervising and auditing authorities of an organisation, they don't actually produce the financial records which infact is done by the accountant.
     
    caspergreen68, Aug 9, 2013
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  6. LorichBrain

    Nora

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    Auditors review the accountants work to make sure it is accurate and no errors or fraud is being done. Corporations need the unqualified report of an external auditor by law.
     
    Nora, Aug 13, 2013
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  7. LorichBrain

    ACC

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    That is not precisely true - a report may be issued with a qualified opinion, it just sends a terrible signal to capital markets and makes the corporation very much at risk of falling afoul of the regulators.
     
    ACC, Feb 27, 2014
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  8. LorichBrain

    Fatima087Haley

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    Hello everyone :) ,

    An Accountant practices evaluating, calculating and collaborating financial information to his clients, they can be a business party or an individual party. Accountant is responsible for translating exact and trustworthy information about the financial state of the clients finances in a clear and logical way.

    The most common kind of Auditor is really financing, but there are also auditors who judge the activities of operational, natural and technical situations. An auditor is job is to freely calculate a specific event or activity.
     
    Fatima087Haley, Mar 28, 2014
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  9. LorichBrain

    Renuka Rana

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    An accountant is a practitioner of accounting , which is the measurement, disclosure of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resources. on the other hand,
    Auditing is a vital part of accounting. Auditing is defined as a systematic and independent examination of data, statements, records, operations and performances (financial or otherwise) of an enterprise for a stated purpose. One who does it is an auditor.
     
    Renuka Rana, Jun 28, 2014
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    Robert J. likes this.
  10. LorichBrain

    kirby VIP Member

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    The auditor has even less personality. :)
     
    kirby, Oct 25, 2014
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  11. LorichBrain

    Kinlejus

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    This topic has always fascinated me, who would You rather be, auditor or accountant? :))
     
    Kinlejus, Oct 27, 2014
    #11
  12. LorichBrain

    StatesSalesTax.com

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    From a sales tax perspective, the accountant keeps track of the sales tax collected and remitted to the jurisdiction. The sales tax auditor reviews the records to verify if the sales taxes were collected/remitted correctly.
     
    StatesSalesTax.com, Apr 20, 2015
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  13. LorichBrain

    Victor Dimgba

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    An Auditor is an Accountant that specializes in a segment of accounting called auditing.The audit job is basically to make sure that accounting records are prepared in conformity with the standard guiding principles of Accounting at any given time and place.Like GAAP and IFRS
     
    Victor Dimgba, May 23, 2015
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  14. LorichBrain

    pjfrench

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    , and are decision useful An Accountant prepares the Financial Statements showing the financial position of an entity at a given time and the profit or loss for a determined period. An auditor verifies that these statements attest or otherwise that those statements are represent the true and fair position of the entity and its results, comply with the mandatory accounting standards, and are decision useful for the stakeholders and readers.
     
    pjfrench, Jun 1, 2015
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  15. LorichBrain

    Slaters Accountants

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    Slaters Accountants, Jul 10, 2015
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  16. LorichBrain

    pndaccountants

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    The work performed by accountants is governed by international accounting standards, but auditors' work is regulated by auditing standards....
     
    pndaccountants, May 18, 2017
    #16
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