Financial Systems Audit
A Financial Systems Audit is an assessment of your business’ financial department around accounting and taxation matters.
Most businesses develop a financial department without a strategic plan or the input of a qualified accountant. With little time to spare, business owners rarely take the time to explore alternative and potentially more efficient ways of running the financial department. Consequently, many successful businesses end up with financial processes that work but are not the most effective.
These weaknesses often lead to hidden costs in wasted time, money and stress. The Financial Systems Audit is a service which highlights the actions required to reduce or eliminate these unnecessary costs.
What exactly does it cover?
The Financial System Audit covers:
- Financial administration
- Bookkeeping and controls
- Accounting and reporting
The Audit will look at systems and procedures relating to organising the businesses paperwork, recording transactions and control accounts.
This will include making sure your business meets all the relevant legal requirements to avoid penalties and to support tax planning strategies.
The Audit will also take account of management information available to the owner of the business for the purposes of business decisions and cashflow management.
Who will benefit?
Business owners who:
- Want a better return from their finance function
- Would like more effective financial management
- Need better information for business or personal tax planning
- Feel they want a better grasp of their business finances
What are the benefits?
A Financial Systems Audit offers an independent review of your business’ financial department with a subsequent list of actions to improve the efficiency.
Think of it as a check-up, making sure that you are using the best systems and processes to manage the finances of your business. You will discover if you can improve control and information whilst also reducing costs at the same time.
What is your investment?
Our Financial Systems Audit starts at £300 plus VAT. This covers:
- Understanding the business and your plans
- An outline review of your accounting system and reporting
- A full report with issues and actions
- A follow up meeting to discuss how best to implement the actions
What results can you expect?
You’ll get a clear understanding of the outstanding problems and opportunities associated with your businesses financial management.
The Audit will outline the actions and likely investment in terms of time, money and stress associated with accounting issues. Before you make an investment you will have a good understanding of the realistic benefits you can expect by improving the financial function.
The action plan will include specific strategies and recommendations to implement the improvement programme.
Will it work?
Yes! And we guarantee it!
Everyone knows that effective financial management is vital but, in reality, most busy business owners do not have the time and expertise to ensure the best and latest systems are being adopted.
Our Systems Audit brings years of practical experience and knowledge and provides you with a specific action plan.
You should be expecting at least four times return on your investment by having a plan to save time, money and stress.
Our guarantee is simple: if you do not feel the service is worth the investment, we will refund you without question.