by Katie Anthony
You may think that since you are not a publicly held company that you don’t need an audit. However, audits are for private companies as well. Many non-profits are required to have audits in order to comply with federal and state grant requirements. Other companies just want to make sure that they are on the right track, and have an audit done in order to have an independent accountant take a look at their financial statements. In addition, there are different types of audits.
You may not think about it in your day to day activities, but your processes may be inefficient. Having an efficiency audit done can pinpoint areas that need work so that you can save money. All companies want to save money and being more efficient will allow your employees to either work less hours, or have time to accomplish more. Another factor could be that your employees are stressed out and don’t have time to get everything done. With just a few process changes, your employee satisfaction could go through the roof due to less job frustration. Happy employees make for a pleasant working environment and better employee retention.
Still don’t think you need an audit? Langdon & Company’s auditors can also perform Agreed-Upon-Procedures. With some direction from our Partners, you can take a look at your needs and tailor a report to the needs of your company. Maybe your industry has very particular regulations. Auditors can come in and make sure that you are complying with these regulations and are keeping the necessary documentation. A good example here is the trucking freight industry. CDL drivers and companies that employee these drivers are required to keep specific and detailed records regarding time spent driving, fuel bought and used across state lines, as well as annual checklists on driving records and other driver-specific information.
Give Langdon & Company LLP a call today to set up an appointment with a manager or partner concerning your company.