By John Seeram
There has been much writing and talk in the media and elsewhere on the performance of organizations in both the public and private sectors as it relates to transparency and accountability. Decisions on those two performance indicators are dependent, among others, on the auditing process.
Auditing is a process
Auditing is an ongoing activity rather than a static one-time check of the relationship between financial assertions and underlying events. This ongoing process requires the recording and analyzing of data as financial activities and events occur, and decision made thereon upon the communication of the results.
