We are an accountancy business with many years of experience behind it. Using what we know, we provide cost effective and practical solutions. Also, our services are bespoke so they match your unique requirements. Thanks to the work we put in, we have become known as one of the top companies for auditing Camden has.
Not managing audits correctly can have major consequences. Several issues can cause them to fail. In this post, our goal will be to discuss the reasons why this happens. In addition, we will talk about what you can do about the problems.
Competence
One reason for audit failure is a lack of competence. Internal audits could be assigned to junior employees. This is cheaper and some see it as a decent way for them to learn how things work. Shadowing an auditor would be one of the better learning procedures. However, a new addition to a business or a junior member of staff isn’t going to know everything they are looking for.
What you should do instead is choose someone with the right training, experience, and knowledge. This will ensure they know what an audit is and the goals. Plus, they will be able to ask the important questions to get a clear idea of everything. You should also make sure they have resources to help them get the info they need and know how to use them.
Where is the independence?
Another reason for failure is a lack of independence. The auditor could be the individual who made the decisions. In this case, it will be hard for them to find faults. They may have a personal bias.
One successful approach that is common is to select managers from different departments. Alternatively, they can look for someone from a different location if it is a multi-site organisation. They will comprehend the context. Furthermore, they will have the goal of wanting the company to succeed. Even better, they will remain objective as their job won’t be in danger.
External auditors would be even more independent. However, they would have to understand the organisational context. Some could even still have bias by wishing to please the customer. If you do choose a third party, you need to do it carefully and make sure they will be honest and impartial.
Ask us if you want to arrange auditing in Camden
At Brian G Lonis & Co, we always aim to offer an outstanding service. To put our clients’ minds at ease, we are FFA qualified. We also take time to get to know your business. By doing so, we can provide the finest solutions.
So, if you wish to work with the top company specialising in auditing Camden has, contact us today. Our services are reliable and we have excellent rates too.