Final answer:
Financial statement auditing is more limited in objectives compared to operational and compliance auditing in the context of business.
Step-by-step explanation:
In the context of business, financial statement auditing is considered different and more limited in objectives than other auditing processes. Financial statement auditing focuses specifically on examining and verifying financial statements of an organization to ensure their accuracy, completeness, and compliance with relevant laws and regulations. This type of auditing is primarily concerned with financial reporting, internal controls, and risk assessment.
On the other hand, other types of auditing such as operational auditing and compliance auditing have broader objectives. Operational auditing evaluates an organization's operational processes, efficiency, and effectiveness, while compliance auditing assesses whether an organization is following laws, regulations, and internal policies.
In summary, financial statement auditing is a specialized form of auditing that concentrates on financial reporting, internal controls, and risk assessment, making it different and more limited in objectives compared to operational auditing and compliance auditing.