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Performance Audits
Bookkeeping plays a critical role in auditing as it provides a foundation of financial information for business owners to review and assess. Maintaining detailed and accurate records of a company's financial transactions, including purchases, sales, receipts, and payments helps with financial growth. For companies who complete their financial journals, we can audit them for accuracy and completeness quarterly. Accurate bookkeeping helps identify discrepancies, errors, and fraudulent activities. We can also verify the existence and valuation of assets and liabilities, assess the effectiveness of internal controls, and ensure compliance with accounting standards and regulations.
Reports
All my bookkeeping services will include crucial financial reports. Accurate and timely financial reporting provides small business owners with important information on how to make informed decisions, monitor their financial health, and comply with regulatory requirements. Standard reports are profit and loss, balance sheet, and account transaction reports. Other reports can be created and utilized for your company to get an overall financial understanding.
Employee or Client File Audits
Regular audits of employee and client files are crucial for small businesses. These audits serve multiple essential purposes: ensuring legal compliance, protecting sensitive information, maintaining data accuracy, improving business operations, and building trust with both employees and clients. By conducting thorough audits, small businesses can identify potential risks, streamline their processes, and safeguard their reputation. This practice, often overlooked, is a vital investment in your company's future. Don't underestimate the importance of regular file audits – they're key to maintaining a healthy, efficient, and trustworthy business operation.