Can Anyone Explain Different Functions Of Auditing?

There are many functions of the auditing which is used by the different businesses. First of all the main and basic function of audit is to check the financial statements whether they are truly made or give fair picture of the company accounts. So many business and companies use the auditing in order to trace the frauds in the cash and in company stock. So there are many advantages of the auditing which the company uses in order to keep and monitor the activities of their employees in the organization.  So the audit is used in many organizations for the control of the company resources and assets. There are two types of the auditing one is the internal auditing and the other is external auditing

In the internal auditing the company appoints an auditor on his behalf to monitor the day to day activities of the business so that they can control the theft of the company resources. However the external auditor is the requirement of the law of government to check the resources the company owes and to the tax they are paying to the companies. So the auditing has become the essential need for the every business so that they can provide the true picture of their accounts.