A financial audit is conducted to verify the correctness of the financial information provided and to also verify that it is being reported according to the accounting standards to present a true and fair view. The purpose of an audit is to conduct independent examination of the financial statements. Business-Adviser is the perfect audit and registered accounting firm that conducts internal as well as year-end audits for all types of businesses.
Generally a financial audit is performed by a company consisting of practising accountants who are also experts in financial reporting. Many companies have internal auditors on their rolls who look after the internal controls set in place to prevent wrongful disclosures, errors and mistakes in the financial reporting. External auditors help the company collect the financial information, record and organise it to present an accurate picture of the business.
It is important to have a clear picture of the company's financial health and the best way to do this is to verify the ledgers, accounts and internal reports, a task . Financial audits lend credibility to these reports – the reports are certified by the auditors as to their accuracy and fairness. Clear, credible and accurate financial information allows the company management to take the right business decisions.
In the course of verification, the audit and registered accounting firm gathers evidence on whether there are any errors or mistakes and whether the information is correctly reported. Business-Adviser is the perfect audit and registered accounting firm that takes care of financial auditing for your enterprise.
The auditors apply certain processes and methods to go about collecting evidence for the audit, which include checking of the entries and posting of accounts, physically examining and counting vouchers, bills and other records of the business. An auditor also goes about physically verifying the firm's assets, their existence, ownership and title while also checking the extent of its liabilities. The auditor also goes about testing the effectiveness of the controls in place that prevent financial misstatements. Inquiry, observation, scrutiny and inspection also fall within the scope of the auditor's tasks.
When you visit http://business-adviser.com.au, you will find that the firm not only handles financial audits, but they also deal with other aspects of business finance like taxation, bookkeeping, financial planning, business advice, retirement planning, etc. A dedicated group of financial experts like cost accountants, tax consultants, financial planners and advisers are geared towards providing the best quality Bookkeeping Services Sydney to their clients.
At Business-Adviser, you can get all the business help you need, right from business consultancy to the planning of your business future that is geared towards growth and profitability. Your business can gain from the collective expertise of qualified accountants, consultants, Business Advisory Firm and business managers.
A complete financial and system analysis is an important first step in figuring out what happens next. Once we have an understanding of just what the issues are and what needs to be done to achieve the outcomes the business owners desire, we can begin to put into place the necessary procedures to maximize profit and performance of any business.