Uses of Statistics

Statistics is not just playing with numbers in its literal sense. It has a much wider meaning nowadays because the growth rate of a company or a business firm can only be judged seeing the statistical results it shows since its advent. Speaking about growth now, we understand the difference auditing can make in the organization. Since auditing is of various types, the more number of audits a company has, the lesser problem it faces, since these audits are self explanatory in their functions. For example an external is an independent public accounting firm who is employed by the client subject to the audit, to hold an opinion on whether the company’s financial statements are free of any materialistic disturbances or not. Likewise, internal auditors are engaged by the organization they audit. They perform various auditing procedures, which are primarily associated with procedures concerned with the efficiency of the company’s internal controls on financial reporting. Similarly, consultant auditors are those who are contracted by a firm to perform an audit by following the firm’s auditing standards. Certainly, it is safe to say here that auditing is an out of the normal topics to study. But talking of the long run,auditing in a company as an auditor will definitely put a person on the success track.