You might have an efficient accounting system and financial controls in place, but do your reports accurately represent the state of your company? After all, mistakes do happen and some weaknesses aren’t apparent until after they’ve caused serious problems. Having an experienced business accountant conduct an audit puts these issues to rest, identifying any problems so you can build a stronger, financially healthier organization.

3 Benefits of Conducting a Business Audit

1. Identifying Accounting Issues

Perhaps your accounting software is having trouble tracking certain types of transactions, or maybe your team is making the same minor mistake over and over again. During an audit, a business accountant will examine both the results and the system itself to ensure your accounting procedures are accurately tracking the flow of money through your business.

2. Giving Investors Confidence

Before investing capital into a business, many investors will insist on a thorough audit of the company’s finances. If you’re looking for investors, planning to expand, or considering a merger, conducting an audit beforehand gives potential partners confidence and speeds up the process.

3. Ensuring the Quality of the Financial Statements

Whether through fraud or human error, sometimes the amount disclosed by the financial statements is incorrect. Auditors help your business by ensuring there are no misrepresentations in your financial data.

They also evaluate the accounting policies of the company along with the way your statements were presented. If there are mistakes or areas for improvement, you’ll be able to streamline the process in the future.

Whether you’re planning to expand or your company needs a financial check-up, trust Sharrard, McGee & Co., PA, to provide an accurate audit with the personal service you need. Their business accountants have over 40 years’ experience serving companies throughout High Point and Greensboro, NC, delivering exceptional results in a wide range of situations. Visit their website to learn more about their business auditing services, and follow their Facebook for more tips and advice. To schedule an appointment at their office in High Point, call (336) 884-0410, or dial (336) 272-9777 to reach their Greensboro location.