Auditing conjures up images of stone-faced IRA agents combing through the books and looking for clues of wrongdoing. However, not all audits are the same. Additionally, even those audits performed by the IRS should not be the source of dread they are to most people, partly because some returns are flagged arbitrarily (for research purposes). It does not necessarily mean you did anything “wrong.”
Here at Whyte & Associates, Inc., we strive to rethink and expand your perception of audit services and their importance to your business as an invaluable tool for getting your operations in order.
We may perform an internal audit to see if the programs, procedures, processes, and policies you have put in place are actually working to fulfill those big ambitions that you have for your business. This independent examination helps to highlight any “areas for improvement,” which can drive strategic adjustments to secure efficiencies in your business, reduce waste, and otherwise boost your profitability and make the most of available resources.
We examine many different business processes. We may pay special attention to supervisory and monitoring prowess and the effectiveness of controls designed to prevent and detect unusual transactions or potential fraud. Additionally, we can “inventory” performance measurements, operational productivity, and business record keeping.
We recognize that you probably have a manager and bookkeeper on staff. They likely have very deep knowledge of how your processes work. We can augment this knowledge with a fresh perspective as an invaluable outside party. After all, as vital as such deep internal knowledge may be, it is human nature to defend even the most inefficient or flawed systems when one has been involved in crafting them in the first place. It makes sense – we all want to protect what we have worked hard to build! Additionally, the hard truth is that those associates most qualified to manage audit systems and processes are most likely to be involved with “irregularities.”
Last but not least, auditors are not the most popular members of any team. Some employees may resent them for having their work “second-guessed.” By enlisting our team as a trusted, experienced, outside third party, you avoid conflict among other employees and management, which helps to support a healthy and happy work culture.
Get one big step closer to having bullet-proof financial reports, which can then set you on the path to acquiring more funds and resources to take your business to new heights of success. Simply contact Whyte & Associates, Inc. at (909) 575-0080 to speak with a member of our team.
