Why You Need Auditing Services
1. Improve Your Business Processes
Mediocre audit firms merely examine your books while proficient auditors detect specific areas through which you can improve inter-organisational control and automate your processes.
Good auditing services can enhance your business functions and streamline your internal processes. They provide insights into where you can eradicate inefficiencies and boost your profits organically.
2. Prevent Fraud and Loopholes
The KPMG-SMU Singapore Fraud Survey has revealed that 58% of corporate fraudulent activity is committed by internal employees.
A third-party audit firm is able to accurately examine your financial records without any personal relationships clouding their judgements. Their impartial inspections prevent your business from taking a major loss.
3. Comply with Companies Act
An experienced audit firm can proactively identify areas in which your books or accounting practices are no longer in compliance with government requirements.
By proactively detecting where your compliance efforts are lacking, you can address them well in time before you are being charged with heavy fines or penalties.
What’s Wrong with Most Audit Firms
1. They Do Not Improve Business Performance
Many audit firms consist of inexperienced accountants delving into new lines of business or fresh auditors with limited industry knowledge.
These substandard auditing services can only provide you with a basic report of what needs to be fixed. They do not recommend methods to improve your business practices in order to help your organisation to achieve better performance and profits.
2. They Take Long Period of Time
Many audit firms can take a very prolonged period of time to audit your accounts. This occurs due to the firm’s lack of manpower, resources and experience.
They can take up to 5 months to complete the audit of your company’s financial records. As a result, huge profits are lost when your operations get heavily disrupted with data collection enquiries and interviews.
Why Should You Choose GEO
We do not just tell you the faults. We guide you on the implementation actions to effectively improve your business processes and revenues.
At GEO, we deliver our auditing services in complete accuracy and in accordance with requirements of the Singapore Standards on Auditing.
Out auditing services are capable of examining financial structures of any complexity and detecting any forms of masked frauds or loopholes in your data.
GEO has a vast pool of proficiently certified public accountants to complete your audit with minimal disruption and within the least amount of time.
We have the competence and experience to swiftly clear up any complicated issues or discrepancies in the audits.
GEO provides a full spectrum of corporate services including corporate secretarial, incorporation, tax planning, nominee director, accounting and auditing services.
You can enjoy great convenience when you engage GEO for all these services that are essential to any companies in Singapore.
Why Should You Trust GEO
With over 20 years of field experience, our past clientele includes a broad range of industries, ranging from Small and Medium Enterprises (SME) to Multinational Companies (MNC).
Our accountants and advisors are certified and approved by:
- The Accounting and Corporate Regulatory Authority (ACRA)
- The Institute of Singapore Chartered Accountants (ISCA)