What is error in auditing and errors types?

In auditing, an error refers to an unintentional misstatement or omission in financial statements or records that can arise from mathematical mistakes, misinterpretations of facts, or oversight. Common types of errors include clerical errors (such as data entry mistakes), errors of omission (failing to record transactions), and errors of commission (incorrectly recording amounts). These errors can affect the accuracy of financial reporting and may lead to misinformed decisions by stakeholders. Auditors must identify and assess these errors to ensure the integrity of financial statements.