Auditing Services

Auditing Services

Auditing service is nothing but “financial investigation or examination” of a company. Auditing is of many types: Compliance audit, Construction audit, Financial audit, Forensic audit, Information Systems audit, Investigative audit, Operational audit, Tax audit, etc.

Auditing service can be External or Internal.

About External auditors

External auditors are highly qualified Accountants (degree holders in MBA or MSA) who know what a sound, mature, honest and professional financial system should look like.

These are independent third-party auditors appointed by a company to do auditing of their business processes which also involves accounting records. External auditing involves not only investigation but also financial counselling for the betterment of the company.

Advantages of Auditing service

  1. It detects financial fraud or irregularities and employees who are involved in the fraud.
     
  2. It helps in reducing financial frauds.
     
  3. It identifies loopholes/weaknesses in the accounting system and suggests improvements.
     
  4. It assures the board of directors and shareholders that the business is running along the straight and narrow path – that is, the figures in the account are reliable and shows the real picture.
     
  5. It gives suggestion to the internal auditors to tighten the internal processes and controls.
     
  6. Auditors may even give advice on fine-tuning/upgrading the mode of doing business so as to reap more profit and also make the employees more productive.
     
  7. If a business owner wants to sell the business, the auditor’s report will help a prospective purchaser to make the right decision about buying or not buying the business.
     
  8. An audited report confirms or adds credibility to the publicly released information for customers, tax authorities, employees, investors, creditors, insurers & suppliers.

Advantages of Internal Auditing service

  1. Ensures that the company sticks to processes and guidelines rather than personal orders/decisions
     
  2. It tightens control over all departments of the business.
     
  3. Identifies redundancies/loopholes/weaknesses and recommends steps to improve the efficiency and effectiveness of financial accounting/transactions.
     
  4. It can serve as an “early warning system” giving the company enough time to remedy the situations before things get “exposed” to external auditors.
     
  5. It increases accountability within the organisation.

Easydisha will guide you to avail the best Auditing services across Bangalore, Hyderabad and Chennai divided by your nearest zones. Now you can start booking qualified and professional Auditing services through easydisha

 

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