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Auditing enables an organization as well as other entities to ascertain the truthfulness of the information in financial statements. A comprehensive audit will help to establish how credible a given financial statement is. Audits also help companies to identify instances of fraud and learn the ways to prevent them in the future. A proper audit provides for risk mitigation in terms of the cost of capital, systems and even ethical issues. Generally, audits are a crucial process for the smooth running and compliance of any organization.
Salary scales of audit associates differ from one country to another or even companies. In the US, an audit associate makes somewhere in the range of $41000-$120000. They also enjoy other bonuses calculated as a percent of their pay. You can enquire from the company, state or country you are anticipating to work in, for more information regarding their salaries and remuneration.
A case study in auditing is a crucial tool for learners in the finance and accounting areas. It provides a hypothetical scenario that the student analyzes to establish different aspects and answer underlying questions. Case studies are educative and reflect the real-life situations that the individual is likely to encounter at work. Therefore, they prepare learners for the actual tasks in their places of work.
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