Many business owners and managers surround themselves with people who agree with everything they say and will not tell them when they are
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All companies and certain other entities are required by law to have their financial records audited
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independent audit and are not afraid to approach the client with bad news if
they have found areas of risk that have not been addressed.
The financial benefits to the client of identifying a problem are many and varied. For
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ignored. By this time, the cost of rectifying it would be much higher than if it
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External Auditors Bring New Ideas to the Business
Audit services provided by an independent accounting firm also bring new ideas and information into the
business. Accountants are required to keep up to date with legislative changes.
Through their networks they are generally aware of economic and financial issues
spreading throughout the wider community. Often they see or hear of a new
approach to an old process or a piece of technology or software that will
benefit their clients.
An external auditor will apply standard accounting principles to their examination of the financial transactions. This gives the
business owner or manager the confidence that the information in the final
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