Auditing
An audit is a systematic and independent examination of books, accounts, statutory records, documents and vouchers of an organization to ascertain how far the financial statements as well as non-financial disclosures present a true and fair view of the concern. It also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditing has become such a ubiquitous phenomenon in the corporate and the public sector that academics started identifying an "Audit Society". The auditor perceives and recognises the propositions before them for examination, obtains evidence, evaluates the same and formulates an opinion on the basis of his judgement which is communicated through their audit report.
Any subject matter may be audited. Auditing is a safeguard measure since ancient times (Loeb & Shamoo,1989). Audits provide third party assurance to various stakeholders that the subject matter is free from material misstatement. The term is most frequently applied to audits of the financial information relating to a legal person. Other areas which are commonly audited include: secretarial & compliance audit, internal controls, quality management, project management, water management, and energy conservation.
As a result of an audit, stakeholders may effectively evaluate and improve the effectiveness of risk management, control, and the governance process over the subject matter.
The word audit is derived from a Latin word "audire" which means "to hear". During the medieval times when manual book-keeping was prevalent, auditors in Britain used to hear the accounts read out for them and checked that the organisation's personnel were not negligent or fraudulent. Moyer identified that the most important duty of the auditor was to detect fraud. Chatfield documented that early United States auditing was viewed mainly as verification of bookkeeping detail.
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Matching Auditing Colleges
University of Washington-Seattle Campus
Four or more years; Public; $34,473 average out-state tuition; $9,909 average in-state tuition |
New England College of Business and Finance
Four or more years; Private for profit; $11,640 average out-state tuition; $11,640 average in-state tuition |
Davenport University
Four or more years; Private not for profit; $16,728 average out-state tuition; $16,728 average in-state tuition |
Pontifical Catholic University of Puerto Rico-Ponce
Four or more years; Private not for profit; $4,800 average out-state tuition; $4,800 average in-state tuition |
Daemen College
Four or more years; Private not for profit; $27,450 average out-state tuition; $27,450 average in-state tuition |
SUNY College of Technology at Delhi
Four or more years; Public; $10,840 average out-state tuition; $6,670 average in-state tuition |
Carlow University
Four or more years; Private not for profit; $27,950 average out-state tuition; $27,950 average in-state tuition |
Scholarships for Auditing Majors
Siebel Scholars ProgramSiebel Scholars Foundation |
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award $35,000 |
deadline Varies |
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Max Christianson Division of Business and Computer Science ScholarshipUnion College, Nebraska |
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award $25,000 |
deadline Varies |
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Besio Family ScholarshipUniversity of Notre Dame |
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award $25,000 |
deadline January 01, 2024 |
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Huizenga Business Innovation Academy ScholarshipNova Southeastern University |
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award $20,000 |
deadline Varies |
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KMF Ninja Professional Development ScholarshipKohlberg-Manacher Foundation |
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award Up to $15,000 |
deadline June 15, 2023 |
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Christine and Clarence Day Business ScholarshipUniversity of Mississippi |
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award $10,000 |
deadline Varies |
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3M Business Development FellowshipUniversity of Minnesota, Carlson School of Management |
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award $10,000 |
deadline Varies |
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Honors Scholarship - Bethel College, KansasBethel College - Kansas |
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award $7,500 |
deadline Varies |
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Business Information Technology Advantage Scholarship - University of Montana, Montana TechUniversity of Montana at Montana Tech |
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award $6,700 |
deadline Varies |
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Weimer Industries ScholarshipMilwaukee School of Engineering |
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award $5,000 |
deadline Varies |
Auditing Related Majors
- Business Administration, Management and Operations
- Business, Management, and Marketing
- Marketing
- Accounting and Business/Management
- Finance and Financial Management Services
- Accounting and Finance
- International Business
- Fashion Merchandising
- Human Resources Management and Services
- Entrepreneurial and Small Business Operations
- Business and Personal/Financial Services Marketing Operations
- Hospitality Administration/Management
- Real Estate
- Management Information Systems and Services
- Fashion Modeling
- Business/Managerial Economics
- Small Business Administration/Management
- Construction Management
- Business/Corporate Communications
- Entrepreneurship/Entrepreneurial Studies