Why is OAC the best option for you ?

OAC offers integrated audit services (financial audit, financial due diligence, internal audit) about the information contained in the financial or non-financial statements. We are also valued by our members for the technical knowledge that we provide, for the autonomy of our consultants, as well as for the support provided to companies in the sense of improving their work and their internal controls. We are required to provide suggestions that allow our partners’ business to increase profitability by lowering costs, including reducing the number of errors and fraud and improving operational efficiency.
Cabinet Audit Comptable Tunisie

Why is a financial audit done ?

A financial auditor will be in charge of assessing your business financial statements annually. The purpose behind making such an assessment is to investigate the financial condition of a company. Your accounting records, your accounts, and your internal control policies will be investigated in order to see if they correspond to the accounting standards that are accepted by the industry.

There are two main objectives behind performing a financial audit. On one hand, you should make sure that your company conforms to the standards set by regulatory authorities. On the other hand, a financial audit can be considered as an evaluation of your financial status that allows you to have an idea about the errors that may occur in your company.

Internal and external audits can be carried out by independent financial auditors. Internal auditors recommend a number of methods that can enhance your company. However, financial risks can be assessed through external audits. Performing internal or external audits in a regular way is a proof that you are seeking to arrange your company in an efficient way.

What are the main goals ?

Several businessmen try to use a financial audit to evaluate the company’s performance in order to:

  • Identify the possible malfunctions.
  • Have an overall idea about financial risks.
  • Possess a number of concrete reasons to persuade new investors.
  • Have a report about the performance of your company.
  • Develop the management through having an overall understanding of your company.

What are the different stages ?

In order to perform an efficient audit, the financial auditor goes through three stages which are listed below:

The first step consists of determining the different objectives to be accomplished through performing this kind of audit.

Then, the objectives that are set by the auditor should be validated. Finally, the results will be summarized and some suggestions will be offered in order to improve the performance of a given company.

What are the drawbacks ?

Although there are several advantages, financial audit has various disadvantages such as:

The organization may consider the cost of an auditor as additional expense. Besides, the auditor may disrupt all the staff because he/she will get their attention while they are working.

The regulations of the company may be changed after performing an audit, but this is not the case of policies.

The scope of the financial audit is not to offer all the statistics that are examined and developed. The data depend on the financial accounts that are offered.