Irshad Nakhooda Inc | All Chartered Accounting as well As Auditors

Auditors are financial professionals who review business records for accuracy and honesty. They are primarily employed by businesses or independent organizations to perform internal and external audits. There are Financial Auditors and Forensic Auditors. Financial auditors perform either internal or external audits. Internal auditors follow guidelines set by the Institute of Internal Auditors (IIA) to objectively evaluate financial activities. They maintain impartiality and independence through a customized chain-of-command reporting system. This means that they typically report directly to the board of directors, not management. Conversely, external auditors are employed by private firms or government agencies. They not only audit financial statements and processes, but the effectiveness of internal financial controls and the clarity of financial reporting. Both types of auditors will generally review accounting statements, books and software systems to verify accuracy and compliance with regulations. They ensure there is no financial waste, fraud or mismanagement. Forensic Auditors Certain public accountants specialize in forensic accounting or accounting. Their task is to investigate illegal financial activities as part of the litigation process. Forensic auditors may specialize in investigating insurance, investment or banking crimes. Forensic auditors investigate a wide array of crime categories, such as embezzlement, tax fraud, securities fraud and money laundering. They may also investigate bankruptcy, contract breaches, acquisition disputes and corporate reorganizations. Forensic auditors work closely with legal and law enforcement professionals. They may even be subpoenaed as expert witnesses during high-profile trials.