Role of accounts and audit in developing world Research Paper (Research Paper Sample)

Role of Accounts and Audit in Developing Countries
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INTRODUCTION
Accounting is a very vital term in the modern society. It provides careers for men and women focusing on top positions in industry, corporate management and government. Accounting is a basic requirement of every business person. No business organization can operate without accounting and auditing. The accounts and audit activities apply in both small business and large business organizations (In Di, McLeay & In Ronen, 2014). In small scale companies, people keep records by use of manual methodology that includes pen, ink and filing systems.
On the other hand, big use companies use modern accounting machines for their operations and record keeping. Both modern and local book keeping require some accounting and audit knowledge for the efficient management of the organization. Therefore, accounting is an important element of a business organization (World Bank, 2003). It helps record the growth of a business. After accounts analysis a suggestion on the way for the future of the company is also provided. In other words, company fortunes depend on the advice and directions of accountants.