Finance Auditing is The Backbone For Business

[Adventurer]

Finance Auditing of any business is the backbone of doing business, sometimes when the company provides loans with no requirement is our business model also based on No Requirements Loan in Philippines - AllTheBestLoans we have to be very secure.

Financial auditing is one of the most important analysis a business needs to do regularly, this analysis will show how well a business is doing, it's financial standing, it can even check if fraud is being perpetuated by some staff. It is recommended to do this 2 times annually

 

[richee84]

Finance Audit is very important in any business organization. It helps to track the inflow and out flow of money in an organization and this will help the management to manage it financing and reduce cost.

 

[Eodine]

I believe you are talking about big businesses, yeah? Because how many small and start up business have a finance department talks less of report? It is when the business has grown that partners can now thank of expansion for getting financial report or Audi reports etc.

 

[Setho]

A business is more about the finances, no matter how well you try to do it sometimes you just might fall short you should constantly set out time to make sure you audit your finances to know if you are moving forward or you are stagnant in one place.

 

[Ehizzy1]

Financial auditing is very important in any business ,because it helps to determine the economic and financial performance of the business ,so financial auditing is important

 

[btaliat]

You are absolutely right. The financial department of an organization should not be underrated. They are the backbone of the organization. They are the one that's into balancing the expenses and the income sides of the business.

 

[Victor001]

In my former work place financial auditing is done once in two years,this is done to keep the company in check,it's also a way of checking for any misformality that ensued during the course of business.

 

[Setho]

I have worked in a place where they do audit there finances as close as every two months . it might sound weird but that it actually did pay off a lot and it helped them

 

[Sheyemanu]

Well in reply to your question in the above post concerning finance auditing being the backbone of the business, well I am of the opinion that a business has so maby important parts indeed, and it will be selfish to say finance auditing is the backbone

 

[Setho]

Business is all about finances and the money and once it goes down wrong there the you might need to make changes that is why auditing is important.

 

[Kane]

In order to calculate profits and loss, a company has to audit its books. In many countries, a company has to audit its books by the end of the fiscal year. This has two purpose, one to pay tax, two to check the business profitability.

 

[Bousine123]

Sure it is. In my country you have to provide a really good and up to date financial statement otherwise you will find it difficult to get loans even from government agencies.

 

[Ralphjoe]

Definitely. Auditing as a whole is something every firm should take serious that is why firms pay millions some billions to established auditing firms to check their financial stance.

I think that all businesses should be addicted on monthly or yearly basis so that he can be ascertained if the business is doing well financially or not. The financial audit will definitely reveal the financial health of the business.

 

[Setho]

You should very much be able to track the finances of your business because that is the greatest key performance indicator of your business entirely.

 

[Kubiat-Abasi]

Finance auditing is very important in business because it helps to keep track on the business by either maximizing on or re-evaluate and make critical decisions to enhance productivity.

 

[Trexxxy]

Agreed. It is important to have control and knowledge over the financial flow of an organisation or company, financial auditing is done at intervals to check wastages and excess.

 

[Lens]

The thread didn't correspond to the topic. Auditing is a very vital activity that must be carried out at regular intervals in a business. This would help to access the financial health of the business from time to time.

 

[Kvngsammy]

A lot of people always feel that auditing finances is a waste of time or resources but what they don't understand is that it gives you a leverage to cross check your finances to see if you're in the right standing and in line with industry standard practices.
Once my business begins to expand, I'll no doubt employ auditing services.

 

[Abigael]

Finance auditing is truly very important in a business. It clearly shows how a business is progressing. Such that whenever a loss is detected, the causes can be corrected early enough.

 

[Good-Person]

Well, obviously auditing is quite important for each and every business because it helps you to assess the performance of your company in the year. Auditing of a company is based on the financial accounting system of the company.