BENEFITS OF AN AUDIT
Support for the accountants – the best time to start a financial audit and to have the best effect is before the end of the financial year, when there is still time to do some adjustments, if necessary, in the coverage of certain transactions and events.
Security for the management – the independant highly qualified specialists – the auditors, verify all processes and if they are correctly reported in the final statements. The clear and honest work of the accounting department and the report compiler. Thanks to their work, the managers are confident that their statements reflect correctly their financial state.
Audits can define the parts in a financial organization which need to be improved, and how apply the right modifications and adjustments.
An audit can reveal inaccuracies and inconsistencies within the records of a certain organization, which may be considered as signs of a weak financial organization.
Protection of the owners – the owners receive confirmation about the credibility of the financial statement from an independent entity, as well as information about eventual mistakes, misuse or fraud committed by people employed in the activity of the company, and in its management as well.
Sufficient and credible information about all other people interested in the activity of the company – financial institutions, investors, contractors and assignors.
More confidence for the company’s creditors and partners– for the business community, the regular audits improve the company’s reputation and make it a liable business partner. Financial audits guarantee smaller investment risk for almost any kind of business.
