It is said that accounting is more for our society than auditing. what is your opinion?

While commonly brought to the same context, audit and accounting are different takes on the same business segment. While accounting is created as a discipline that prepares and records financial transactions in a company, audit is an external discipline that monitors accounting and its compliance with general accounting principles.

Having in mind that accounting is always related solely to the company's internal business and goals, while audit is external and critical by nature, it can be said that audit is actually more relevant to society than accounting. Audit has the bigger picture in perspective, as it examines and contrasts numerous accounting practices in order to determine if they are in compliance with the law.

Nowadays, audit is divided by external and internal audit. Internal audit remains among the limits of a particular company, following accounting tightly and serving as a predecessor for external audit, which is always more critical and highly unbiased.

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