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Accounting & Auditing are essential practices that ensure the accuracy, reliability, and transparency of financial information. Accounting involves recording, summarizing, and reporting financial transactions to provide a clear picture of a company's financial health. It includes tasks such as bookkeeping, financial statement preparation, and compliance with regulatory standards. Auditing, on the other hand, is the systematic examination of financial records and statements to verify their accuracy and adherence to established criteria. Auditors assess the effectiveness of internal controls, identify any discrepancies or fraud, and provide an independent opinion on the financial statements' fairness. Together, accounting and auditing promote trust in financial reporting, enabling stakeholders to make informed decisions. These practices are fundamental to maintaining the integrity of financial markets and fostering economic stability.
