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The Secret To Making Your Company Resilient And Profitable

By Adrienne Fisher

Solidifying your company’s existence in the industry requires more than just creating high quality products or rendering first-rate service. It also entails hiring the best people to run your business; brilliant workers make great companies. A closer look at some of the world’s established companies would verify this claim. These businesses invest on locating the best people for their company.

However, even if the best people work for your company, you should not be overly complacent. Cases of some esteemed employees instigating fraudulent activities within companies are not really rare. This only implies that placing certain measures to safeguard your company from unscrupulous individuals is definitely necessary. One of the essential processes which can help you in this goal is an external audit.

The examination of financial records by a third party is known as an external audit. The primary goal of this process is to determine if your people’s reports are really accurate. For company owners like you, an external audit is an invaluable process as it allows you to verify the legitimacy of the expenditures logged in your books. Most importantly, you determine whether or not your employees are truthful and committed to your company. Generally, this process is also your best tool in preventing and apprehending fraudulent activities in your company.

In addition to ensuring the integrity of your financial books, external audits can help you and other key members of your company map out sensible steps to better your company. In cases where inconsistencies or errors are present, the commissioned audit firm offers advices on how these issues can be rectified. It can also help you determine essential adjustments or changes in your operations for your company’s growth.

Evidently, the advantage of having your business externally audited on a regular basis isn’t just limited to avoiding costly government fines and sanctions. This process keeps your company credible and consequently, profitable. Suffice it to say, an external audit is vital for your company’s longevity; meanwhile, an external audit firm is your ally in this endeavour. Hence, if you really want your business to stay profitable for many years, engaging the services of an audit firm Singapore entrepreneurs highly recommend is something you should not fail to do.

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Article Citation
MLA Style Citation:
Fisher, Adrienne "The Secret To Making Your Company Resilient And Profitable." The Secret To Making Your Company Resilient And Profitable. 9 Apr. 2013. uberarticles.com. 16 Sep 2014 <http://uberarticles.com/business/the-secret-to-making-your-company-resilient-and-profitable/>.

APA Style Citation:
Fisher, A (2013, April 9). The Secret To Making Your Company Resilient And Profitable. Retrieved September 16, 2014, from http://uberarticles.com/business/the-secret-to-making-your-company-resilient-and-profitable/

Chicago Style Citation:
Fisher, Adrienne "The Secret To Making Your Company Resilient And Profitable" uberarticles.com. http://uberarticles.com/business/the-secret-to-making-your-company-resilient-and-profitable/


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