WHAT IS IT?
Most accounting firms offer assurance services which include audits, reviews and compilations. Among these three, audits are the highest form of assurance accountants can provide. By definition, auditing is a thorough evaluation of an organisation’s efficiency, appropriateness and overall performance which means that an audit can be one of the most significant tools in any financial institution.
PURPOSE OF AUDIT
- To meticulously review the records, management reports and examine the different legal documents necessary for running a business.
- To trace the transactions of supporting documents and authorisations.
- To help the company increase the standard of its accounting procedures by identifying weaknesses.
- To determine any financial problems and to offer appropriate changes in the current financial procedures for a more efficient management system.
- To establish additional measures which can support the protection of an enterprise’s financial assets.
DOES YOUR BUSINESS NEED A FINANCIAL AUDIT?
Determining whether your organisation requires a financial audit greatly depends on the size of your company, its type, as well as your financial goals and objectives. Whilst auditing is not specifically designed to eliminate all risks, catch all errors or provide any guarantees, having one performed and completed can provide you with the reassurance that your accounting records properly represent the financial condition of your company. What’s more, completing an audit also boosts your company’s value. This is especially important since your financials are now of a great quality that you can truly utilise them as a tool to properly run your business.
We, at Albert Goodman, take pride in our highly-experienced team of financial auditors who provide you with a complete assurance service whether you choose to have an annual audit or whether you are required by law. We know that this process must give you added value to help you further grow and develop your business which is why we combine modern software, our great expertise and a tailored approach to fully ensure that we can deliver what your company needs. Get in touch with us today. Give us a call on 0330 333 5039 and one of our friendly professionals would be more than happy to assist