Audit your account easily without hiring an auditor
Most times there arises conflict as regards what auditors perceive as auditing and what users perceive as auditing. Users of financial statements feel that an audited account shows that the company has a clean bill of health; the company account is devoid of error, that issue concerns a public limited liability company. This book centres’ on small, medium scale companies. What kind of activity/activities is your company into? Don't worry; you don't need to panic about that.
Audit fees is an expense that erodes the profit made in the period, most of the time, firms employ auditors because of errors, irregularities and fraud.
Audit fees are cost charged in the expense profile of a company and I want to let you know that this expense is avoidable because it's not statutorily required to have your account audited, but for accurate record system, auditors are employed but I tell you categorically that you can audit and examine your own financial records and account yourself even without an accounting, or finance background. This firm was your idea. The firm was financed and is being managed by you. So, in spite of your background, you are in charge. You know the staffs, you understand the technicalities of the business and that is why despite the harsh business environment, your firm is still above waters. So, you are in control. You may have delegated some sensitive aspect of your business to employees who possess the expertise especially the account/finance department. You can examine your records without bias or prejudice against any of your staff
Prevent your employees from defrauding you
This is your chance to peer into the world of understanding fraud and fraudulent practices. I will unveil to you what the Business Schools teaches their Executives-Facts about fraud and how to prevent it.
So it pays to do as much as you can to prevent your business being defrauded. Regardless of size, all organizations are vulnerable to workplace fraud. Fraud can take many forms—including embezzlement, forgery, theft of inventory and other assets, and computer crime—and can continue unchecked for years. The financial impact on an organization of these so-called “white-collar” crimes can be devastating.
If you own a Company either a small scale/Medium scale or a large Company, this book can be the ideal panacea to your worries. If you intend to set up a Company, this book can serve as the ideal guide that you need. I have been able to give you steps you can institute in your firm in order to be able to audit your Companies yourself.
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