Protect The Health of Your Business With GBC Financial Audits and AUP Services
What is an Audit?
An audit is an overview of financial records which often includes reviewing expenditures, profits and losses as well as risk assessments. Audits can encompass a fiscal quarter of a number of years and is often used to assess the financial strengths and weaknesses of a company.
Audits may be used to ferret out fraud or embezzlement, particularly in situations where such activity is suspected. In many cases, detailed audits help business owners evaluate overhead costs and disbursement. Such information is especially beneficial if a company finds itself consistently operating at a loss.
Audits that are performed by an independent body are best as they can ensure the unbiased nature of findings. For this reason, governmental agencies like the Internal Revenue Service or Department of Labor tend to respect independent audit records.
What is an Agreed Upon Procedures Engagement?
An agreed upon procedures engagement (AUP) is a report that is developed between two entities namely an auditor and a business and any acknowledged third party. The AUP details what audits services will be performed and why. Those who utilize AUP services often use the findings of the report in order to form conclusions about their financial standing and legal compliance of a business.
The information culminated via AUP audits are often held under the strictest confidence and related only to those who have the clearance to evaluate such a report.
GBC Audit and AUP Services
There are a number of reasons why a company may request an basic audit or AUP report. Individuals or businesses could for example, desire to learn more about the financial stability of a corporation they plan to acquire.
GBC Audits provides a broad range of auditing and AUP services in this and numerous other arenas.
If you plan to buy a new company or simply wish to figure out a way to increase your profit margins, we can help. Contact GBC Audits of a Atlanta to see what kind of auditing and AUP services we can provide.
Call or come by today and take the next step towards enhancing your company’s financial security.
For additional information, please visit our blog where you can learn more about GBC’s effective payroll, human resource, tax preparation and filing services. You will also find a number of helpful posts regarding the various facets of business management.