The Need for Auditors and Advisers Today
May 15, 2017
With global markets constantly fluctuating and moving every day, it has become necessary for a degree of regulation to ensure the businesses involved are well informed and as protected as possible. Many individuals and businesses alike use companies like RSM to conduct audits or provide valuable advice. Here are some of the reasons this is necessary.
Protect Businesses and Shareholders
Markets are risky by nature, and businesses involved in market investments usually have shareholders. Therefore, it makes sense that audits and advice protect these shareholders to some degree, as they provide useful insights into the necessary steps to regulate investments.
The Sarbanes-Oxley Act of 2002 made significant changes to the way businesses in the US are audited and managed, and also has implications for companies worldwide. As such, it is now essential that every aspect of trading business dealing is thoroughly vetted and processed. Decent auditors and advisers, therefore, can ensure peace of mind that a business is in full compliance with the necessary laws.
Using an auditor/adviser for a trading business ensures that it is watertight and abiding by all the necessary regulations, such as those introduced by the FCA. This allows businesses to cover all their transactions, ensuring they are taxed and conducted correctly, and ensuring long term financial viability.
Having professional advice on the various risks of markets is also very useful in determining the likelihood of success in any given investment. It helps navigate businesses towards greater growth and development, potentially accelerating them towards their end goals and helping to avoid investments which could prove damaging.
One more use of independent auditors and advisers is that they can maximise the tax efficiency of companies, no matter how small or large they may be. This not only saves time in a long winded and complex process, but also ensures overall profit is as good as it can be.
Using these services in conjunction with each other provides a safety net for businesses to steam ahead with their investments, in the knowledge that they are fully backed up by a professional, specialist organisation, dedicated to helping them succeed.
Auditors and advisers are more of a necessity than a choice these days, so any business or individual should thoroughly search to find one which works for them. They help reduce some of the risks associated with market fluctuations, and ensure business investments and dealings are optimised for today’s world.