Auditor

“ With each report of the auditor is a 'statement of differences,' purporting to show in what particulars the amount stated by the auditor differs from that rendered by the collector. It begins by setting down 'the balance due the United States per his account ending' at such date, and this balance is increased by the addition of such sums as the collector has taken credit for, but which the auditor has refused to allow. ”

“ The auditing system in vogue is as old as the Government and the methods used are antiquated. There are six Auditors and seven Assistant Auditors for the nine departments, and under the present system the only function which the Auditor of a department exercises is to determine, on accounts presented by disbursing officers, that the object of the expenditure was within the law and the appropriation made by Congress for the purpose on its face, and that the calculations in the accounts are correct. ”

“ In these circumstances, in the cases of large concerns with wide ramifications and numerous transactions, it is necessary that auditors should have the help of trained assistants, and thus the personal examination of details by the auditor himself is, to a large extent, rendered unnecessary and the cost of audit materially reduced. ”

“ All local boards, large cities, corporations, and other bodies have official auditors for the purpose of examining and checking their accounts and looking after their expenditure. So far as regards the work which auditors discharge in connexion with the accounts of joint-stock companies, building societies, friendly societies, industrial and provident societies, savings banks, &c., the word auditor is now almost synonymous with “skilled accountant,” and his duties are discussed in the article Accountants. ”

“ The Board shall, with the prior approval of the Financial Secretary, appoint an auditor, who may be the Director of Audit.
(2) The auditor is entitled—
(a) to have access to such books of account and other records of the Fund; and (b) to require such information and explanation, as he considers necessary to perform his functions. (3) The auditor shall audit the statement of accounts prepared under section 18 (2) and make a report to the Board on the audit of that statement. ”

“ It is the duty of an auditor to bring to bear on the work he has to perform that skill, care, and caution which a reasonably competent, careful, and cautious auditor would use. What is reasonable skill, care, and caution must depend on the particular circumstances of each case. ”

“ The auditor general upon direction by the legislature may employ independent accounting firms or legal counsel and may make investigations pertinent to the conduct of audits. He shall report annually to the legislature and to the governor and at such other times as he deems necessary or as required by the legislature. ”

“ The salary and other employment benefits of the chief internal auditor shall be
commensurate with those received by persons in equivalent positions in commercial banks
and other financial institutions and shall be determined by the Board.
4. The chief internal auditor may resign from office after giving not less than three months’
written notice to the Board and shall be subject to the provisions of Article 15 (3) .
Article 48 External audit
1. ”

“ In Britain the public accounts are audited by the Exchequer and Audit Department, Somerset House, at the head of it being a comptroller and auditor-general, and an assistant-comptroller and auditor, with a large staff of clerks. In Scotland there is an auditor attached to the Court of Session appointed to tax costs in litigation. ”

“ The final account of the annual expenditures and revenues of the Republic shall be verified and confirmed each year by the Board of Audit and reported by the Government to Parliament. Article 121. The organization of the Board of Audit and the qualifications of auditors shall be determined by law. An auditor shall not, during his tenure of office, be subjected to a reduction of salary, a suspension of his functions or a transference of office except in accordance with law. ”

“ He occupies the position of auditor and is the real systematizer of the business. He creates all systems of commercial accounting, cost accounting, departmental records, time keeping, and pay rolls, reports of superintendent, perpetual inventory, sales statistics, and, in fact, all records of the business. He prepares all balance sheets, comparative statements, trading, manufacturing, and profit and loss statements, and reports to the general manager or executive committee, or both, on the condition of finances, materials, and finished goods. ”

“ Each bank shall establish an audit committee. The audit committee shall be a committee of
the board of directors and shall have the following duties and powers:
a. to review and recommend the approval of the accounting procedures, annual audit
plan and accounting and risk management controls for the bank;
b. to recommend and approve an auditor for appointment pursuant to Article 46 as the
bank’s external auditor ”

“ The Auditor shall make an annual report on the regularity of the accounting operations and of the financial management of the various institutions. He shall make this report within six months following the end of the fiscal year to which the accounts pertain, and shall communicate it to the Commission of Presidents. ”

“ The average audit consists of counting the cash and seeing if the vouchers to the cash account are correct, but a proper audit is something different. The Council should expect, as a result of the audit, a clear statement of the status of the Exchange together with recommendations for improvement and reports of any irregularities, etc. An auditing officer who spends his time finding out whether or not the books contain any mistakes in addition is not performing his proper functions as auditor. ”

“ The Public Auditor shall be free from any control or influence by any person or organization.The Public Auditor shall inspect and audit accounts in every branch, department, agency, or statutory authority of the national government, and in all other public legal entities or nonprofit organizations receiving public funds from the national government. ”

“ The accounts of the Commission shall be audited by the Auditor-General or such other auditor as may be appointed annually by the Minister in consultation with the Auditor-General (referred to in this Act as the auditor) .
(2) A person shall not be qualified for appointment as an auditor under subsection (1) unless he is a public accountant who is registered or deemed to be registered under the Accountants Act (Act 4 of 2004) . ”

“ A juristic person shall have one or more auditors. An Unlimited Liability Incorporated Association, however, shall not be required to have an auditor. The auditors shall be appointed in accordance with the provisions of the Articles of Incorporation or by resolution of the general stakeholders meeting or a meeting of the board of directors. No director or employee of a juristic person shall be an auditor. An auditing juristic person may be an auditor. ”

“ Each bank shall send copies of the audit report to the CBI not later than 30 days after it
becomes available. Where the CBI is not satisfied with the auditor’s report, it may require the
appointment of another auditor to prepare a new audit report within a specified time.
Article 47 Additional duties
1. ”

“ The auditor or comptroller is bookkeeper for the state, audits accounts against it, and draws warrants upon the state treasurer for their payment. [Footnote: No money can be paid out except on appropriation by the legislature.] ”

“ Comment.-The reports in the auditor's office were 'public records of the office, which are open to the inspection of all, and may be used in evidence in all cases between all parties, when competent, to establish any fact in issue for judicial determination.' 74 Iowa at pages 583, 584, 38 N.W. at page 494. ”

“ And be it further enacted, That the third auditor aforesaid, for performing the duties hereby required by him, shall be allowed and paid the sum of five hundred dollars, out of any money in the treasury not otherwise appropriated. ”

“ The accounts of local boards, poor-law unions, &c., must be passed in a similar manner by an official auditor. It is the duty of the auditor to disallow all illegal payments, and surcharge them upon the person making or authorising them ; but such disallow ances may be removed by ccrtiorari into the Court of Queen s Bench, or an appeal may be made to the local Government Board. In municipal corporations two burgesses must be chosen annually as auditors of the accounts. ”

“ And since so large a portion of county claims are for material and supplies for use in the construction and maintenance of roads, bridges and institutions, the work of audit cannot fail to be closely associated with the purchasing system. The purchasing agent by whatsoever name called, is, after all, a special sort of auditor, dealing with a variety of commodities instead of funds. ”

“ That any person aggrieved by the action or decision of the auditor in the settlement of his account or claim may, within one year, take an appeal in writing to the Governor General, which appeal shall specifically set forth the particular action of the auditor to which exception is taken, with the reason and authorities relied on for reversing such decision. ”

“ You and the auditor will have to work out the details as to the necessary bureau in your office, depositaries for money, interline relations and numerous other propositions which usually become self-suggesting when the broad working principles are established. ”

“ The auditors having certified to its correctness, submit their report, and the chair puts the question on adopting it, which has the effect of approving the treasurer's report, and relieving him from responsibility in case of loss of vouchers, except in case of fraud. If there are no auditors the report when made should be referred to an auditing committee, who should report on it later.
It should always be remembered that the financial report is made for the information of members. ”

“ The certificate of the auditor being according to the statute prima facie evidence only of the facts stated, amounts to nothing more than that in his opinion the circumstances are such that the bonds may properly go out as commercial paper of the kind they appear on their face to be. It binds no one. ”

“ The company's accountants must produce the annual and other financial statements. It is not the responsibility of the auditors whose obligation is to report to the shareholders on the credibility and legality of the financial statements. The shareholders may appoint an audit committee to review the audit reports on their behalf. ”

“ In that case they shall rank behind the counsellors of state, and shall have no voice in council, unless we, from a wish to assure ourselves whether they improve in the transaction of affairs, in qualifying themselves for the administration, shall ask their advice: the other auditors shall only be employed in the interior of the divisions.
14. As the institution of auditors is intended to initiate young men in business, and to facilitate the means of succeeding in it, they will receive no provision. ”

“ In the United States the auditing of the Federal accounts is in the charge of the treasury department, under the supervision of the comptroller of the treasury, under whom are six auditors, (1) for the treasury department, (2) for the war, (3) for the interior, (4) for the navy, (5) for the state, &c., (6) for the post office, as well as a register and assistant register, who keep all general receipt and expenditure ledgers; there are official auditors in most of the states and in many cities. ”

“ There shall be two classes, the first composed of young people who shall have shewn in the exercise of their functions more capacity, discretion, and attachment to their duty: they shall take the name of auditors of the king, and the others merely the name of auditors. They shall be employed to prepare business, according to the orders they shall receive from the presidents of the sections of the council of state: they shall have no communication with the ministers unless by a formal order from us. ”

“ Why, the accounting department is going to be absorbed by the operating department. From the ashes of the ruins there will arise a department of inspection or efficiency which will do the things that the so-called auditors are now helpless to accomplish. Some of the men in this new department will be recruited from the earnest officials and clerks of the accounting department of to-day. These men fail to attain the result they so loyally desire, not from their own limitations, but from the fallacy of the system under which they work. ”

“ To this end, the Council and the European Parliament in turn shall examine the accounts and the financial statement referred to in Article 78d, the annual report by the Court of Auditors together with the replies of the institutions under audit to the observations of the Court of Auditors, the statement of assurance referred to in Article 45c (1) , second subparagraph, and any relevant special reports by the Court of Auditors.’
10. ”

“ Five members of the Society are annually elected auditors, who are by their office to inspect every transaction of the Society, to examine all vouchers for receipts and payments, and upon oath to lay before the quarterly and annual general courts, the quarterly and annual accounts of the Society: and on the day before the holding each court of directors, the auditors are to state and enter in the directors minute book a balance of the cash of the Society. ”