The purpose of a finance audit is threefold. First is to confirm that procedures are in place to govern a business to obtain optimum profit levels. Second is to verify compliance with all applicable regulatory agencies. And third is to protect all business stakeholders from risk of fraudulent practices. To that end, all businesses – whether public or private – should conduct periodic audits to protect their financial security. At a minimum, a fundamental audit checklist should be used and an audit administered by an unbiased committee from within the business. However, the most prudent course is to have an audit conducted by a qualified, external audit firm twice a year. Contact Hirsch Tax Pros with any of your financial accuarcy issues and let us help you solve your puzzles.
