Internal Auditing Services in Southall
What is Internal Auditing
Internal Financial Auditing, or internal review, is an examination of an organization’s operations by outside experts, such as a qualified external accountant, to assess if these operations are complying with generally recognized accounting principles (GAAP). It involves evaluating the financial statements and all relevant documentation to verify compliance with accounting standards. The result from this evaluation may include recommendations as to what steps are necessary to remedy the problems. An external auditor will review the financial statements and the documentation to ensure that the company’s accounting practices are consistent with GAAP and that the results are accurate and timely.
Internal Audit is an important step in the process of controlling fraud within the company. A fraudulent transaction may occur on the books of a company that would have been caught had there been no external review.
How We can Help You
Internal auditors are very important as they help to prevent fraud and embezzlement of funds. As your auditor, Advantax Accountants work closely with our clients to find errors and inconsistencies in the financial statements. Their main objective is to ensure that the financial statements are accurate and are prepared in accordance with GAAP and other rules of standard accounting practice. In order to be sure that an internal audit is completed properly and in accordance with the guidelines set forth by GAAP, our expert and qualified auditors first try to understand your company’s financial setup which usually varies from company to company, before starting a thorough audit.
Most companies prefer to hire us an outside auditor to perform their company’s internal audit annually. It is important for an internal audit to be conducted by an independent certified accountant. That is why we have the best certified and experienced accountants to conduct your auditing.