Category: Tax & Accounting Services
Written by Fajri Yudha Pratama on 21/08/2023
The author’s views are entirely their own and may not always reflect the views of Putranto Alliance.
Financial audit and review are integral processes in the business world to ensure the accuracy and reliability of the financial reports of an entity. This article aims to delve into these practices, highlighting the definitions, differences, significance, and the role played in business operations.
Financial audits and reviews are essential for ensuring transparency, accountability, and reliability in financial reporting. They help organizations maintain trust with stakeholders, comply with regulatory requirements, and detect and prevent fraud or errors.
The best time to conduct financial audits and reviews depends on the specific conditions of the organization and regulatory requirements. Generally, audits are often performed annually after the completion of the financial reporting period. Reviews can be conducted more frequently, such as quarterly or semi-annually, to provide timely insights into financial performance.
Financial audits and reviews offer several benefits to organizations, stakeholders, and the broader business environment:
The process of conducting financial audits and reviews involves several key steps to ensure thoroughness and accuracy:
Financial audit and review is an important aspect in maintaining the reliability and accuracy of a financial statements of the company. Putranto Alliance offers audit and review services tailored to client needs with a commitment to providing the best solutions.
The time required for a financial statement audit can vary depending on the complexity and size of the company, but it typically takes several weeks to several months.
What should a company do if it receives an adverse audit opinion?
Selecting the right audit and financial review service provider involves considering experience, credibility, reputation, and expertise in the relevant industry. Companies also need to ensure that the service provider has the necessary independence, integrity, and qualifications.
Financial statement audits are not mandatory for all companies. Based on Permendag No. 25/2020, companies that are required to conduct a financial statement audit are companies with the following criteria.
Putranto Alliance offers customized financial audit and review solutions using a systematic approach and timely methodologies to ensure compliance with industry and regulatory standards while providing valuable recommendations for improvement and optimization of financial performance.
The benefits of using financial audit and review services from Putranto Alliance are high confidence in the reliability of financial statements, proper identification of potential financial risks, and recommendations to improve financial processes and controls of the company.
Thank you for sharing
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+(62) 21-520-4989
putranto@putranto-alliance.com
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