PJH Louw Auditors

Our unique approach

At FM on Call we go beyond the basics and provide auditing services for every business, large or small. We accomplish this by providing the following:

• We identify risk areas within your business
• We provide effective management of these risks
• We keep management informed of the status of key areas within the business
• We provide insights and recommendations to improve your processes

With the right guidance you know that your business has a better chance in growing and increasing profits. FM on Call assists you with providing expert financial advice and our team can show you where you can improve in your business with the help of our comprehensive auditing services.

Internal vs. External audits

Internal audits are aimed at providing value to a business and to improve a business’ organisational structure. It will evaluate various aspects like risk management and governance and can include a variety of services, including:

• Finance management
• Performance audits
• Project governance
• Risk management
• Implementation of the Companies Act

Internal auditing services refer to when a financial audit on a company is performed, of which the reporting will be forwarded to the directors and shareholders. This will help the company to manage their risks more effectively and also maintain accurate financial accounts and transactions. If there are any discrepancies, an internal audit will pick this up and you can then work to correct any issues as soon as possible, before it becomes a liability for your company. This is the main benefit of an internal audit as you want to know that your business is operating effectively and according to the law.

When it comes to an external audit, external auditors like FM on Call are hired to do conduct an audit and report back to the shareholders directly. External audits will conduct a check of the financial management of the company and this is very important as your shareholders and investors want to know that you are conducting your business in an effective, legal and honest way.

External auditing services will allow for the auditors to have a discussion with the management and shareholders of a company to address any issues and put an effective plan in place to avoid any potential liabilities. External audits are often more complicated as they are conducted by a third party.

Where internal audits are more concerned with the risks and liabilities of a company, external audits focuses more on the financial aspect of a business. You may choose to obtain any type of audit, and can do both these audits annually as well.

The benefits of a company audit

There are many benefits of an external audit, especially for medium and larger companies. Since accounting is one of the main tools a business uses to assess its growth and profitability, an audit is necessary to ensure that everything runs smoothly. Audits can be obtained when necessary, and companies usually require and audit once a year. This is a great way to ensure that your business stays on track and that you have the right assistance in terms of addressing any issues and liabilities you may have.

It provides validation

External auditing services provide validation for a company’s owners and shareholders that it is being operated efficiently and that all accounting practices are being followed correctly. This is important because a business has to comply with the rules and regulations that govern their industry. It can also validate that their accounting records are accurate and up to date at all times.

It highlights liabilitie

An external audit will be able to pick up on any irregularities and issues that might arise within a business. This is important because if a problem is not solved immediately it might become a financial liability for the company in question. At FM on Call we ensure that we conduct a thorough audit of your entire business and will report back to your management and shareholders about our findings.

It limits tax issues

Auditing services also offer the added benefit of assisting with your taxation; it can limit your tax issues since your financials will be thoroughly investigated and also improved to streamline your business and reduce your tax liabilities where possible. This is a great benefit for any growing business as your taxes should always be accurate and on time.

Incorrect accounting information can increase your tax liabilities and it will also have an impact on your profits. Overstating your income can be a problem and an audit can pick up on these and other issues within your business.

With so many benefits, our auditing services are ideal for any business, large or small. We provide a professional service as well as support and recommendations where needed, which means that you will always have a professional team of accountants by your side to help you grow and manage your business.
For more information about our auditingservices, contact FM  On Call today.