
Mar 2019
The professions of an Accountant and an Auditor are very similar to each other, and the terms are often used in place of one another. Both the accountant and the auditor require the basic knowledge of accounting and bookkeeping and need analytical and computational skills. This causes people to confuse between the two and use these terms instead of each other, which is a wrong practice. Let’s go ahead and find out the differences between the two professions.
Who is an Accountant?
An Accountant is a professional who takes care of the daily financial transactions of the company or the business. He deals with the company raw data, analyse them and then create the various financial statements for the company. He is usually the employee of the company for which they work, and they work daily. Maintaining a record of the transactions will help in filing for Value Added Tax in the future.
Now let’s see who an Auditor is.
Who is an Auditor?
An auditor is a person or a firm, usually a third party, which is appointed to check all the books of the company to check for any inconsistency. An auditor will analyse the books which have been created by an accountant and will check everything for any variations and then generate an audit report by his scrutiny. Even a small variation in the books would mean that the accountant was not vigilant and was not properly keeping the books.
The Differences between an Accountant and an Auditor
In the world of Accounting, the term Accountant and Auditor hold different responsibilities. For better clarity, read below.
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The professions of Accounting and Auditing are interconnected. When an Auditor validates the job done by an Accountant, then only it is understood that the accountant presents reliable data, whereas an Auditor cannot start his work before an accountant finishes his work. Thus, it can be established that both accountants and auditors are necessary for any business.
If you are looking to start a business, then hiring an accountant is one of the most critical steps to be taken by you. If you want accounting and bookkeeping services for your business, then JAXA is here to assist you.
We at JAXA, provide accounting, bookkeeping and auditing services to help your business grow and reach its full potential. Apart from the core domains, we also offer various other services which can help your business to improve more and work efficiently. For more details on the various services we provide do contact us – we’d be happy to help.