THE REASON WHY YOUR AUDITOR HAS A COSTLY NIGHTMARE (THAT YOU MUST PAY FOR)
Ever wondered why that audit was so expensive? Let us show you how a simple accounting extension, called Triple Entry Accounting, (TEA) can save you and your auditor time and money.
WHY ARE AUDIT COSTS HIGH AND ENGAGEMENTS SOMETIMES NOT EVEN PROFITABLE (FOR THE AUDITOR)?
Auditors follow regulations when they audit. And yes, the auditor’s work is also subject to a quality audit. To be efficient, they plan the audit ahead. If unexpected things show up, the plan might have to change. Along with all the documentation from the planning phase when the nature and the scope of the audit was assessed.
Auditors collect audit evidence in order to land on a conclusion that the financials are fairly presented without material misstatements. High quality documentation and transparency can therefore lower audit related costs and improve reliability of the financials.