What Is the Difference Between an Auditor and an Accountant?
Both the auditor and accountant do almost similar tasks. Both are good at accounting and bookkeeping. This is why many people use both these terms for the same purpose which is a wrong practice. If we go in detail, both the accountant and auditor do very different tasks. Let’s have a look at some of the differences between an auditor and accountant.
An Accountant is a professional who deals with daily financial transactions of a business. He processes company raw data and also analyses it to create different financial statements. On the other hand, an auditor is a person or maybe a firm with a duty to scrutinize all the books of the company to find out any inconsistency if present.
Another difference is the accountants are required to fulfil the specific standards of accounting that are recommended by the International Accounting Boards. These accounting standards are used worldwide. On the other hand, the work of an auditor is not regulated by the International accounting boards. For auditors, International Auditing Boards is the main regulating body.
An accountant is responsible for creating financial books of an organization normally at the end of every quarter. These financial books contain the financial health of a company and its business. For Swindon Accountants, visit a site like Chippendale & Clark, providers of Swindon Accountants services.
The duty of an auditor is different in this regard as they will perform scrutiny of even the minor details of the financial books constructed by an accountant. This examination helps create the accuracy of these books designed by the accountants.