Working with Johannesburg audit firms can be very beneficial as they allow you to take a good look at your business and provide an in-depth review that would otherwise have been time consuming and expensive. Audits can be done for small and large businesses, depending on their needs; however if you run a large organisation, an audit will be compulsory to do.
Benefitting from an Audit
There are many reasons why you might need an audit to be performed by Johannesburg audit firms. Most likely this will be to put your shareholders at ease, letting them know that your business is running smoothly, returning a profit, and complying with all the necessary guidelines. There are other reasons too, such as improving your chances to win a tender, or verifying your financial statements for SARS.
Should you want to sell your business in the future, you can substantiate your selling price by having your business regularly audited and verified. This is a great way of ensuring that your potential buyers can see the value in your business, and know that your financial statements and transactions are verified. Most business work with a Johannesburg audit firm from the start, so that they have a team that knows their business, their background, and their method of operations.
An Independent Review
An alternative to an audit is an independent review; Johannesburg audit firms can provide you with a review, although it won’t be as detailed as an audit. Reviews will still allow you to see potential dangers in your business and its practices, so that you can make the necessary changes in order for your business to run smoothly. An independent review will never be as thorough as an audit, but it is still a good idea if you are looking to evaluate your business’ your goals and needs.
Colin Smith & Co is one of the preferred Johannesburg audit firms that provide auditing services to small, medium and large businesses. They have a unique approach to business, and will provide solutions that tailored to a specific market environment to ensure quality and value auditing services.