HERE the shortly described the history of auditing. The word
audit comes from the Latin word “ audire’’ meaning to hear. There are five categorized
to development of auditing history. 1.Prior to 1880: Early auditing is not well documented.
It is just in the checking activities found in the ancient civilizations of china,
Egypt and Greece. Similar the checking activities is known as exclusively exchequer
in the UK. 2.1840-1920: In the time industrial revolution the
practice of auditing was emerged. The main task of the auditor in that period
to detect fraud and check the company solvency. 3.1920 -1960 : The advance of the security market
was developed in the period. The auditing developed much in that period. Materiality
concept, sampling technique emerged. 4.1960- 1990: The world economy continued to grow
in the 1960-1990. This period marked an important development in technological
advancement. The duty of auditor changed and duty to affirm the truthfulness of
financial statement and ensure fairly presented. 5.Present day: Present day auditing has developed
into new processing and part of the business activities
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