Relationship between the Auditors General Office and Professional Firm concerning the

financial auditing process.

The Auditor General Office gave guidance on financial record keeping, accounting and
disclosure in line with best practices in public financial management. Furthermore, it gave
audit licenses and acts as a regulator for the accounting and auditing profession.
Refer to : http://audit.gov.mv/en/about/the-auditor-general/message-from-auditor-general/
The Auditor-General audit everything from the financial statements.The role of the AuditorGeneral is to encourage public accountability in the public administration of the Territory.
Other than that, it is also to audit annual financial statements of the Territory, and to control
the perfomance of audits.
Refer to : http://www.audit.act.gov.au/role.html
The function of professional firm is to make an opinion about whether the financial report
complies with the accounting standards and undertake their audit in accordance with the
auditing standards in section 307A. An audit firms system of quality control contain all the
activities
conduct
by the audit
firm toan
improve
the audit
quality
and including below
What
is the
Difference
Between
Accountant
and
an Auditor?
The formation of firm policies for the implementation of professional standards of objectivity,
integrity
andasauditor
requirements.
Personnel
management,
includes
policies
As
similar
theseindependence
two occupations
are, there
are several
differences
between
an
and an
andaccountant
procedures related
to auditor.
hiring, assigning personnel to engagements, training, professional
development and advancement. The progress, maintenance and delivery of firm-specific
and equipment
for perform
the audits.
methods
Accountants
are usually
employees
of the company for which they work,
whereas,
Refer to auditors are often hired from an outside firm to verify the accuracy of
the accountants work. Although not always the case, an auditor generally has
http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2011
no financial connections to the company.
/CorpFin/ImportanceofAuditFirmsSystemofQualityControl.jsp

The work done by accountants is done on a daily basis, whereas auditors

usually
perform
quarterly
annual
accounting
work.
are
often brought
Accountants
dealing
with the or
daily
financial
transaction
for a Auditors
company or
business.
Their
into a company after a specific situation, such as suspected fraud.

responsibilities can cover some of tasks that range from incoming earnings to outgoing

The work performed by accountants is governed by international accounting

payments. They also maybe responsible for the figuring payrolls and tax deductions, paying
standards, but auditors work is regulated by auditing standards.

vendors, implementing cash, check and electronic payments, preparing tax returns acoordinate

Accountants are generally a requirement for a business; however, hiring an

the books at year end. An accountants role may vary rely on what type of accountant they are.
auditor is an option.
Accountants create financial statements for the company at year-end. These
statements create a picture of the financial stability of the company. An auditor
will look over the financial statements and determine their accuracy.
Because accountants work for a specific company, they generally have their
own office or workspace. Auditors, on the other hand, often move around from
company to company.

Auditors usually conducting many of the same tasks as accountants, although they have very
different responsibilities. Many companies use auditors and accountants interchangeably
because they have similarities and differences. The difference between an accountant and
auditor is that both of these professionals are responsible for the accounting processes of a
company, an auditor is usually responsible for reviewing the work of the accountant.
The relationship between the Auditors General Office and Professional Firm is accountants
are generally employees of the company for which they work, while auditors are always hired
from an outside firm to confirm the accuracy of the accountants work. Although not usually
the case, an auditor usually has no financial connections to the company. Furthermore,
accountant done their work on a daily basis, while auditors usually do quarterly or annual
accounting work. Auditors are usually brought into a company after a specific condition. All
the financial statement and the work that is done by the accountants is reviewed by the
auditors to check out all the statement whether it was misstatement or not.
The work that is done by accountants is controlled by the standards, but auditors work is
regulated by auditing standards. Accountants work for a certain company, they usually have
their own office or workplace while auditors always move around from company to company.
Both of these have to meet each other to work together on concerning the financial auditing
process.
Accountants perform financial statements for the company at year end. These statements
create a review of the financial stability of the company. An auditor will look over the
financial statements and ensure their accuracy.
Reffer to : http://www.topaccountingdegrees.org/faq/what-is-the-difference-between-anaccountant-and-an-auditor/
Professional accountants usually find themselves being at the frontline of to protect the
integrity of financial reporting. Management is responsible for the financial information
released by the company. Professional accountants have tasks of defending the quality of
financial reporting at the source. Professional accountant and auditor roles that contribute to
the overall stability and progress of society.
Refer to : https://www.ifac.org/news-events/2013-10/roles-and-importance-professionalaccountants-business