Accountants and Auditors

Accountants handle the daily financial transactions for a company or business. Accountant’s duties include various tasks that range from incoming earnings to outgoing payments. An auditor is someone who oversees the work down by the accountant. Auditors often perform many of the same tasks as accountants, although they also have very different responsibilities. Some of these differences are – accountants are employed by companies, whereas auditors are external. An accountant does work on a daily basis, whereas an auditor works quarterly or annually. The work performed by accountants is governed by international accounting standards, but auditors’ work is regulated by auditing standards. Accountants are a fundamental requirement for the business, whereas an audit is usually optional. Both big and small businesses require the services of an accountant to manage their finances. Audits are optional but useful processes also undertaken by companies.

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