Audit.......

CA Lalit Kandoi (Chartered accountant) (1053 Points)

04 July 2011  

What is an Audit??

Once upon a time there was a shepherd looking after

his sheep on the side of a deserted road. Suddenly a brand new Porsche

screeches to a halt. The driver, a man dressed in an Armani suit,

Cerutti shoes, Ray-Ban sunglasses, TAG-Heuer wrist-watch, and a Pierre

Cardin tie gets out and asks the shepherd, 'If I can tell you how many

sheep you have, will you give me one of them?' The shepherd looks at

the young man, then looks at the large flock of grazing sheep and

replies, 'Okay.'The young man parks the car, connects his laptop to

the mobile-fax, enters a NASA Website, scans the ground using his GPS,

opens a database and 60 Excel tables filled with algorithms and pivot

tables. He then prints out a 150-page report on his high-tech

mini-printer, turns to the shepherd and says, ‘'You have exactly 1,586

sheep.' The shepherd cheers, 'That's correct, you can have your

sheep.'The young man takes one of the animals from the flock and puts

it in the back of his Porsche. The shepherd looks at him and asks, 'If

I guess your profession, will you return my animal to me?' The young

man answers, 'Yes, why not?' The shepherd says, 'You are an auditor.'

'How did you know?' asks the young man. 'Very simple,' answers the

shepherd.'Firstly, you came here without being wanted.Secondly, you

charged me a fee to tell me something I already knew. Thirdly, you

don't understand anything about my business.....Now can I have my dog

back? '