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“Audit” is
not a dirty word!
George Dakis, Partner of Audit and Assurance
Services, highlights some of the benefits
of conducting a voluntary audit.
Audit – the word often conjures worrying
images in people’s minds. Intrusive,
cumbersome, and other similar words may
be used to describe what most people believe
the audit experience to be.
Most audits, however, are a statutory requirement.
This ranges from corporations law to incorporated
associations. Some organisations request
a voluntary audit!
“Why would they do that?”
Forensic Investigation
One of the possibilities could be to help
detect a suspected fraud, or more beneficially,
to review the existing internal controls
preventing fraud and provide recommendations
for improvement before the fraud is perpetrated.
Process Re-engineering
Another reason may include the overall review
of an organisations internal control systems,
how the organisations financial systems
support the organisations business goals,
and an independent and objective review
of the organisation’s risk profile
and mitigation program.
Corporate Governance
Governance is more than just a buzz word.
An independent review of your governance
framework and control procedures can bring
real benefit to your business. These benefits
can include:
- Compliance with legislative requirements;
- Adherence to best practice;
- Discharge of accountability; and
- Management of organisational risk.
Internal Audit
A well planned strategic internal audit
program can assist an organisation by providing
a structured and directed review of its
key business and financial risks. Improvements
in processes and the elimination of inefficient
practices will improve the organisation
bottom line and resources.
If you believe that your business
could benefit from an “audit”
or simply want to have a no obligation chat
about your situation, please contact
George Dakis on gdakis@nexiaasr.com.au
or 03 9608 0106
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