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For General Audit

Documents For General Audit

Copies of leases, loans, and material contractsTrial Balance
General LedgerLoan Statements
All New Fixed Asset Purchases with their invoicesDepreciation Schedule
Payroll reportsName and identity proof of company directors
Listing of all existing bank accounts

Benefits of General Audit

Weakness Identification

A general audit helps with the identification of any probable weakness with the current accounting systems with scope for improvement.

Updated Financial Statement

Any issues with the financial statement are reported to the directors ensuring that they are updated with what’s going on with the finance section without being involved.

Advice Facilitation

An audit allows for the facilitation of advices that can bring in real benefits for the business in terms of capital.

Enhanced Credibility

An audit jots up the credibility of the company when the figures being reported are same or at least similar to the final auditing results.

Better Credit Ratings

Having a general audit can aid with better credit ratings on which most banks as well as trade suppliers generally rely.

Insurance Claims

In case there is an event requiring insurance claim, the loss adjusters tend to have more reliability over the accounts that have been audited.

About General Audit

General audit is the objective evaluation and examination of the company’s financial statements in order to make sure that the records presented are fair with accurate representation of the transactions. Audits can be conducted either internally by the organization’s employees or by a firm outside. The IRS can easily perform an audit in order to verify accuracy of taxpayers or other such transactions. Most of the time when the audits are processed by IRS, it generally comes with negative connotations of tax theft.

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  • 10299 __
  • Private Limited Company Auditing
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  • 20999 __
  • Public Limited Company Auditing
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