healthcare accounting my course is accounting for healthcare describe the process an 4508224

Healthcare Accounting

My course is Accounting for healthcare.

  1. Describe the process an outside auditor uses to analyze an organization’s transactions to ensure accuracy.
  2. Describe and discuss a reason for audit failure.
  3. How does an internal audit vary from an external audit? Why are internal audits so important?

Answer Preview……………

Auditing is the systematic inspection if accounts, records and documents of an organization to ascertain that the financial statements are just as stated and the inventory rhymes and is well followed (Board, 2017). Therefore, both internal and external auditing are important in managing an organization. An independent outsider performs an external audit to ensure that the financial reports represent the standing of the organization. For accuracy purposes, the auditor selects the organization where the audit will be conducted. Notably, the audit is then followed up by planning of the scope of audit by making an effort to understand the documentations needed and go through the previous audits (He, Pittman, Rui & Wu, 2017). The auditor then evaluates how the company works and starts the auditing process which is consequently, fooled up by writing and submitting a report on the findings of the audit. In the report auditor writes the findings, recommendations as well as the conclusion.

APA 452 words

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