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Explaining auditing and assurances

Home / Blog Entry / Explaining auditing and assurances

Auditing CamdenWhen you need an accounting service, you will want the help of a team with the right skills to do the job. This is a complex industry that is hard to navigate even at the best of times. Fortunately, the number one business for auditing Camden has is here to support you.

Audits and assurances are two vital parts of the accounting industry. The two differ from each other so it is wise not to confuse the pair. To ensure this does not happen to you, we are going to explain them in detail here.

What is auditing?

This is a systematic assessment and review of documents or information. Several forms of audit exist. In the particular context of professional services they are typically financial. The aim is to supply you with reasonable but not complete assurance. The financial statements offer a fair and legitimate view in line with the reporting framework.

It is not always legally binding

There is no legal requirement that every company has to have audits. Many that don’t legally need them must instead have someone assure their financial details independently. In most cases this would be the job of an accounting firm like ours.

What is assurance?

This is a professional service with another aim; to enhance the transparency and quality of information. The idea is to lower the chance of issues due to false information. It is possible for assurances to be compliance or regulatory-based. They work to guarantee that organisations or companies follow rules, policy, and guidelines. In addition, they provide more confidence in financial statements.

Talk to the best provider of auditing in Camden

At Brian G Lonis & Co, we have a reputation for tailoring our services to suit the client we are serving at the time. Not to mention, we offer our help for some very reasonable rates. These reasons, as well as various others, are why we are the leading company for auditing Camden has.

Get in touch today if you want to find out more about how we can aid you. We can even arrange to come to your office for a consultation if you wish.