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Accounting is a listing of all financial transactions, and there will be a correspondence with bank statements. Auditing is a check by an independent person or company that has no other financial interest in the first company etc to check nothing illegal or against accounting principles has occurred. Companies usually carry out their own internal audit first, but that doesn't count for much legally.

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Q: What is the relationships between accounting and auditing?
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What are similarities between accounting and auditing?

The similarities between auditing and accounting is that both are concerned with keeping records of a business. The other similarity is that both ensure that the correct financial statement of a business are prepared.

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What has the author Edward Stamp written?

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