Auditing Services

Auditing services are crucial for every business, whether small or large. There is a host of services we provide. But first, why is it crucial to hire an auditor?

 To protect an entity asset

To manage the financial aspect of the business

To apply accounting policies in the firm or business 

Interestingly, there are three types of audit, and they are; 

●     External audit (whereby an external body, like us, monitor or review the company's finances

●     Internal audit (This is when a company or rather a business has someone on the inside working for them and the audit is handed over to the top management)

●     Internal revenue service (IRS) audit (This is when a taxpayer's return is being checked or audited to verify if accurate)

The financial aspect is crucial in every business as it can crumble the business if not properly monitored. This is why we are dedicated to the task and ensure results are achieved. So, why are audits important?

●     To prove the credibility of finances

●     To improve the company's internal control

●     To retain the confidence of the shareholders that indeed such accounts are accurate 

When is an audit required? 

Well, an audit is required if:

●     If the company in the company exceed 50

●     If the company's assets exceed $10M

●     If the company’s total turnover exceeds $10M

 You need an audit if you are;

●     A public company

●     A company that has authorized insurance

●     Banking firm

 Government Statutory Broad, e.g. Building Construction Authority may require the company to perform an audit. The Banker may require the company to perform an audit. The shareholders of the company may require the management to perform an audit.

 As an accountant, some of the useful skills that would impact the business when auditing are:

●     Time management: Where the auditing services would keep to time and achieve their task.

●     Problem-solving: We won't just be solving problems but also laying down possible solutions along the way.

●     Confidence: We wouldn't shy away when we sense something's wrong with the status quo.

Get your finances in check and your company on the right track with the best auditing services available.