You should know the difference between accountants and auditors, and Maryland tax preparation service providers.
Accountants and auditors help to ensure that the Nation’s firms are run efficiently, its public records kept accurately, and its taxes paid properly and on time. They perform these vital functions by offering an increasingly wide array of business and accounting services, including public, management, and government accounting, as well as internal auditing, to their clients. Each are broadening the services they offer to include budget analysis, financial and investment planning, information technology consulting, and limited legal services.
Internal auditors verify the accuracy of their organization’s internal records and check for mismanagement, waste, or fraud. This is an increasingly important area of accounting and auditing as they examine and evaluate their firms’ financial and information systems, management procedures, and internal controls to ensure that records are accurate and controls are adequate to protect against fraud and waste. They also review company operations, evaluating their efficiency, effectiveness, and compliance with corporate policies and procedures, laws, and government regulations.
Both work in the public sector, maintaining and examining the records of government agencies and auditing private businesses and individuals whose activities are subject to government regulations or taxation. Accountants employed by Federal, State, and local governments guarantee that revenues are received and expenditures are made in accordance with laws and regulations. Those employed by the Federal Government may work as Internal Revenue Service agents or in financial management, financial institution examination, or budget analysis and administration.
Thanks to these different but equally special skill sets, we are able to trust all of our financial transactions.