question archive You have recently commenced your auditing studies at university

You have recently commenced your auditing studies at university

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You have recently commenced your auditing studies at university. Your best friend Ericka who studied graphic art and knows nothing about auditing and accounting has just started work for a listed clothing company in the fashion design department, says to you over lunch one day: "Some guys arrived today for the audit - they come from some firm or company that sells external audits or something and apparently every business has to have one. I find it strange that we have to get an audit from someone outside the company because a little while ago some guys from our company were doing something with an internal audit. What on earth does this audit thing have to do with a clothing company?

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