An auditor is a person or a firm appointed by a company to execute an audit.[1] To act as an auditor, a person should be certified by the regulatory authority of accounting and auditing or possess certain specified qualifications. Generally, to act as an external auditor of the company, a person should have a certificate of practice from the regulatory authority.

Types of Auditor

  • External auditor/ Statutory auditor is an independent firm engaged by the client subject to the audit, to express an opinion on whether the company's financial statements are free of material misstatements, whether due to fraud or error. For publicly traded companies, external auditors may also be required to express an opinion over the effectiveness of internal controls over financial reporting. External auditors may also be engaged to perform other agreed-upon procedures, related or unrelated to financial statements. Most importantly, external auditors, though engaged and paid by the company being audited, should be regarded as independent.
  • Internal Auditors 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. The internationally recognised standard setting body for the profession is the Institute of Internal Auditors - IIA ( The IIA has defined internal auditing as follows: "Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes".[2]
  • References


  1. ^ Practical Auditing, Kul Narsingh Shrestha, 2012, Nabin Prakashan, Nepal
  2. ^ "Pages - Definition of Internal Auditing". 2000-01-01. Retrieved 2013-09-02.
2000 Pennsylvania Auditor General election

Pennsylvania's Auditor General election was held November 7, 2000. Incumbent Democrat Bob Casey won reelection by a healthy margin. His Republican challenger was Katie True, a State Representative from the Lancaster area. Both candidates were unopposed in the primary.

2004 Pennsylvania Auditor General election

Pennsylvania's Auditor General election was held November 2, 2004. Necessary primary elections were held on April 27, 2004, with both major party candidates running unopposed. Democrat Jack Wagner, a state senator from Pittsburgh, was elected auditor general; he had previously been the endorsed Democratic candidate for lieutenant governor in 2002, but was upset by Catherine Baker Knoll. The Republican candidate was Joe Peters, a Department of Justice official who was well known for prosecuting Philadelphia mafia boss Nicodemo "Little Nicky" Scarfo.

2006 Minnesota State Auditor election

The 2006 Minnesota State Auditor election was held on November 7, 2006. Incumbent Republican Patricia Anderson was defeated by former State Representative Rebecca Otto of the Minnesota Democratic–Farmer–Labor Party (DFL). Independence Party of Minnesota candidate Lucy Gerold finished third.

2008 Pennsylvania Auditor General election

The Pennsylvania Auditor General Election, 2008 was held on Election Day. Incumbent Democrat Jack Wagner of Pittsburgh was unopposed for the Democratic nomination. Republican Chet Beiler, a construction executive from Penn Township, Lancaster County, was also unopposed for the Republican nomination after primary opponent Chris Walsh withdrew from the race, citing problems with his nomination petitions. Wagner had previously served as a State Senator, while Beiler had no prior political experience, but was a manufacturing executive.

2010 Minnesota State Auditor election

The 2010 Minnesota State Auditor election was held on Tuesday, November 2, 2010 to elect the Minnesota State Auditor for a four-year term. Incumbent Rebecca Otto of the Minnesota Democratic–Farmer–Labor Party (DFL) was re-elected to a second term.

2012 Pennsylvania Auditor General election

The Pennsylvania Auditor General election of 2012 was held on November 6, 2012. The primary election was held on April 24, 2012.

2016 Pennsylvania Auditor General election

The Pennsylvania Auditor General election of 2016 was held on November 8, 2016. The primary election was held on April 26, 2016.


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 auditing report.Any subject matter may be audited. Audit 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.

Auditor's report

The auditor's report is a disclaimer thereof, issued by either an internal auditor or an independent external auditor as a result of an internal or external audit, as an assurance service in order for the user to make decisions based on the results of the audit.

An auditor's report is considered an essential tool when reporting financial information to users, particularly in business. Since many third-party users prefer, or even require financial information to be certified by an independent external auditor, many audiotapes rely on auditor reports to certify their information in order to attract investors, obtain loans, and improve public appearance. Some have even stated that financial information without an auditor's report is "essentially worthless" for investing purposes.

Auditor (ecclesiastical)

In ecclesiastical terminology, an Auditor (from a Latin word meaning "hearer") is a person given authority to hear cases in an ecclesiastical court.


A comptroller is a management-level position responsible for supervising the quality of accounting and financial reporting of an organization. A financial comptroller is a senior-level executive who acts as the head of accounting, and oversees the preparation of financial reports, such as balance sheets and income statements.

In most Commonwealth countries, the comptroller general, auditor general, or comptroller and auditor general is the external auditor of the budget execution of the government and of government-owned companies. Typically, the independent institution headed by the comptroller general is a member of the International Organization of Supreme Audit Institutions (INTOSAI). In American government, the comptroller is effectively the chief financial officer of a public body.

In business management, the comptroller is closer to a chief audit executive, holding a senior role in internal audit functions. Generally, the title encompasses a variety of responsibilities, from overseeing accounting and monitoring internal controls to countersigning on expenses and commitments.

Comptroller and Auditor General of India

The Comptroller and Auditor General (CAG) of India is an authority, established by Article 148 of the Constitution of India, which audits all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government. The CAG is also the external auditor of Government-owned corporations and conducts supplementary audit of government companies, i.e., any non-banking/ non-insurance company in which Union Government has an equity share of at least 51 per cent or subsidiary companies of existing government companies. The reports of the CAG are taken into consideration by the Public Accounts Committees (PACs) and Committees on Public Undertakings (COPUs), which are special committees in the Parliament of India and the state legislatures. The CAG is also the head of the Indian Audit and Accounts Department, the affairs of which are managed by officers of Indian Audit and Accounts Service, and has over 58,000 employees across the country.

The CAG is mentioned in the Constitution of India under Article 148 – 151.

The CAG is ranked 9th and enjoys the same status as a judge of Supreme Court of India in Indian order of precedence. The current CAG of India is Rajiv Mehrishi, who assumed office on 25 September 2017. He is the 13th CAG of India.

Iowa State Auditor

The Iowa State Auditor is the State Auditor of the Government of Iowa, United States. The office's mission is to "serve as the taxpayers' watchdog" by "ensuring that government officials use taxpayer dollars for the intended purposes to benefit the public".The office is provided for by the Constitution of Iowa, which requires that the Auditor be elected every four years, simultaneously with the rest of the state's executive branch, in midterm elections. The State Auditor is annually required to make a complete audit of the financial accounts of every department of the Government of Iowa. The office supervised by the Auditor of State includes three divisions: Administration, Financial Audit, and Performance Investigation.

Minnesota State Auditor

The Minnesota State Auditor is a constitutional officer in the executive branch of the U.S. State of Minnesota. The State Auditor is charged with overseeing more than $20 billion spent annually by local governments in Minnesota. The State Auditor does this by performing audits of local government financial statements and by reviewing documents, data, reports and complaints reported to the Office. The financial information collected is analyzed and serves as the basis of statutory reports issued by the Office of the State Auditor. The State Auditor is elected and serves a four-year term.

Ohio State Auditor

The Ohio State Auditor (formally known as the Auditor of State) is responsible for auditing all the public offices of the state of Ohio. The auditor is elected to a four-year term. The current Auditor is Keith Faber.

Pennsylvania Auditor General

The Pennsylvania Auditor General is the chief fiscal officer of the Commonwealth of Pennsylvania. It became an elected office in 1850. The current Auditor General of Pennsylvania is Democrat Eugene DePasquale.

State Auditor of Missouri

The State Auditor of Missouri is an elected official responsible for serving as the State of Missouri's chief fiscal regulator, conducting financial and performance audits for approximately 200 state agencies, boards, and commissions, and the state's judicial branch. The State Auditor also conducts audits for county and city governments lacking their own auditor or when requested by citizen petition. The State Auditor serves a four-year term, and is the only state Executive Branch official elected in even-numbered non-presidential election years. The office was temporarily held by John Watson after Tom Schweich, who was elected in 2010 and reelected in 2014, committed suicide on February 26, 2015. Nicole Galloway was appointed by Governor Jay Nixon to fill the office on a permanent basis until the 2018 State Auditor election, effective on April 27, 2015.

State auditor

State auditors (also state comptrollers or state controllers) are executive officers of U.S. states who serve as auditors and comptrollers for state funds.

The office of state auditor is often a constitutional office (that is, it is created by the state constitution). The state auditor often heads a state agency. In 24 states the auditor is an elected office, while in others auditors are appointed by the state governor or state legislature. Some states require a gubernatorial appointment to be confirmed by the state senate. Colorado's auditor is appointed by the legislature and Tennessee's Comptroller of the Treasury is elected by the state's General Assembly sitting in a joint convention.Fiscal matters are the primary business of these officers but their audit skills are frequently put into practice for other purposes such as Colorado's reports on health exchanges and on marijuana legalization. California's state auditor is involved with the redistricting process. Despite their generally positive, relatively high-profile position, auditors seldom seek higher political office. They are organized nationally in the United States as part of the National Association of State Auditors, Comptrollers and Treasurers.

Vermont Auditor of Accounts

The Vermont State Auditor of Accounts is one of six constitutional officers in Vermont, elected statewide every two years. The Office provides an independent and objective assessment of Vermont's governmental operations.

The current Auditor is Douglas R. Hoffer, a Democrat/Progressive. He was first elected to this office in 2012.

Until 1870, Vermont elected their Auditor of Accounts for one-year terms.

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