Auditing is also closely related with other functional fields of business such as finance, production,
marketing, personnel and other general areas of business management. With the overgrowing field of
auditing, the financial services sectors occupies a dominant place in our system. While in general terms,
the auditor is expected to have knowledge about various financial techniques such as working capital
management, funds flow, ratio analysis, capital budgeting etc. The auditor is also expected to have a
fair knowledge of the institutions that comprise the market place. The knowledge of various institutions
and Government activities that influence the operations of the financial market are also required to be
understood by an auditor. Auditing and Financial Management
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