As a growing business there are many things that you need to consider. One of these is to keep your financial administration compliant and effective, and the best way to ensure this is with the help of a professional auditing and assurance service. This will enable you to focus on your core business activities while they take care of your finances, taxes, payroll and more.
There are many benefits to auditing services for growing companies, including:
- Tax Payments: Your auditor can ensure that your payments to SARS are accurate and on time, and they can prepare and submit your returns on your behalf. This will take a lot of pressure off of management and you will be in the capable hands of an experienced auditor that knows what you are liable for and how to ensure you are up to date.
- Accurate Statements: Auditors can take care of your account reconciliations and allocate all transactions into the correct category. They can make sure that payments are accurate and that all outstanding debtors are handled. They will prepare your company’s annual financial statements and verify that they are accurate and original.
- Compliance: This is an essential part of any business. You need to ensure that your entire business is compliant at all times and that you follow all the rules and regulations that govern your industry. If you are not compliant you run the risk of facing penalties or hefty fines, something that no growing business can afford to have.
- Spot Audits: this is a great way of ensuring that your business processes are running smoothly and effectively. With spot audits, you can easily find irregularities and address them as soon as possible so that you avoid penalties or even losses.
- Financial Advice. With a professional team on your side, you can benefit from sound financial advice that can help you make important business decisions to support growth and productivity.
Having a professional team of auditors assisting you with your growing business, you will ensure that you are compliant and always finding ways to improve your processes. Colin Smith & Co specialises in high quality auditing and assurance services to growing businesses all over South Africa.