From the course: Accounting Foundations: Internal Controls
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What do auditors do?
From the course: Accounting Foundations: Internal Controls
What do auditors do?
- One of my favorite movies is "Toy Story." In the movie, after Buzz Lightyear announces that he is a space ranger, Rex, the toy dinosaur, asks in awe, "Oh, uh, Mr. Lightyear, I'm curious, "what does a space ranger actually do?" If Rex the dinosaur were here now, he might ask this similar question: what does an auditor actually do? Well, that's a good question. So what do auditors do? Auditors do interviews. There are a couple of reasons for this. First, a company really is just a collection of people. If auditors are going to sign the financial statements that have been generated by the people inside a company, the auditors want to be able to understand the people. The interviews help the auditors understand the people and also help the auditors understand the company's internal processes. The auditors, both internal and external, want to know the real processes, not just the processes described on paper that…
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