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-by Mahatma Gandhi

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Economic Glossary

    Auditor

An official whose job it is to carefully check the accuracy of business records. An auditor can be either an independent auditor unaffiliated with the company being audited or a captive auditor, and some are elected public officials. The term is sometimes synonymous with "comptroller." Auditors are used to ensure that organizations are maintaining accurate and honest financial records and statements.

Auditors can be classified into two categories

(a) External Auditors: It is an independent firm engaged by the client subject to the audit.

(b) Internal Auditors: They are employed by the organizations they audit. They work for government agencies (federal, state and local); for publicly traded companies; and for non-profit companies across all industries.


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Banker's Algo Daily Dose

Word of the day

Dawdled(v)

Meaning:

To waste time, to act slowly

Synonyms: idle, lag, laze, lazy, loaf, loiter

Antonyms: forward, hasten, hurry, push, rush, speed

Apti Question of The day

Question

Milk contains 5% water. What quality of pure milk should be added 10 litres of milk to reduce this 2%?

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