Auditing Services That Help Your Business Grow
As more stringent regulations and rules have evolved, the nature of auditing and reporting has become more complex. At Focused Energy, we know how important timely and accurate financial data is -- and we focus on providing clear audit guidance which creates value for your team.
Whether you are integrating an acquisition, seeking independent accounting assurance, or relieving overstressed internal teams, there are many reasons to work with outside accounting resources for your audit. Our financial auditing services ensures that your organization has reliable controls and accurate data to make informed decisions.
What is an audit?
Auditing is an essential function for a business or a company. Every company needs to conduct a thorough assessment of its financial statements, i.e. balance sheet, income statement, and cash flow statement. At its most basic level, auditing is a review of financial or operational data to ensure accuracy and compliance of rules, standards, and statutory regulations. This will include transaction testing, understanding internal controls and assessing fraud risk.
However, it can be much more than that.
As a company grows, an audit may be required to secure additional financing, satisfy a legal or bonding requirement or value the company’s stock. An audit tells stakeholders that the financial statements are fair and provide a factual representation of business transactions and activities.
Auditing can also assess an organization’s internal controls and operational processes for efficiencies, areas of risk and opportunities. Internal controls need regular review, testing and updates to be effective. A thorough audit provides this, which in turn gives valuable information for leaders to make wise and on-time management decisions.
Working with Focused Energy, our audit and assurance services can satisfy stakeholders that financial controls are in place to safeguard business assets and reassure management that they are making decisions based on reliable data.
Common auditing services
- Financial statement audit
- Internal control design or review
- SOX compliance (Sarbanes-Oxley Act 2002)
- Risk assessment
- Tax review
- IFRS compliance
- Compliance review
- Performance analytics
Audit benefits for your business
Regular auditing helps your organization in reducing risk, setting achievable goals, and creating new efficiency measures. It identifies the lacking areas of the company through reviews of financial statements and processes. It also makes suggestions to achieve efficiency and productivity.
Audits can also help detect fraud and risk in operations, gain investor trust, and help in achieving business expansion by identifying inefficiencies. Audit and compliance have various benefits for any organization both in short as well as in the long run. Some of the benefits of audit and compliance are mentioned below:
- Increase investor trust due with independent findings
- Ensure effective internal controls
- Tax management
- Build efficiencies
- Minimize risk
Why choose Focused Energy outsourced financial team for auditing?
You’re in a position where you make critical decisions that determine the future of your business. The pressure is on. But how do you make strategic business decisions when you don’t have a complete picture of where you’ll stand?
This is where Focused Energy can help. You are an expert in your field, and so are we.
We take some of the burdens off your shoulders by providing financial or operational auditing and insights, helping you identify areas of risk and growth (or giving the assurance that you’re on the right path).
New rules and regulations, competitors, technologies and systems seem to appear every day. Our depth and breadth of industry experts can help you stay up to date with these complexities – as a seamless part of your leadership team, an independent third-party or a supplemental resource to your accounting department. That's the value in hiring fractional financial resources.
Our mission is to help clients succeed by determining the challenges that lay ahead and giving them the insight to make informed decisions that achieve your goals.
Let us help identify areas of risk and provide you with peace of mind. Our team of CFOs and accountants can ensure accurate financials so that you can focus on what is best for your business – expansion and growth.