The audit is a procedure which certifies the accounts of a company. It
is ensured by an auditor (person in charge of this mission) who attests to the
good financial health of the company as well as the regularity of its
management. A good audit thus ensures certification to said company with
different partners or organizations for example. Beyond this control mission,
the auditor thanks to his analysis allows his client to foresee the future steps
to be taken. The audit therefore allows analysis in many very different areas:
accounting, finance, management, the product development process, etc.
The profession of auditor
The auditor is a self-employed person or an employee of a company
specializing in auditing. The most important part of his work concerns the
accounting and financial audit of a company:
·
Control the company's accounts,
·
Evaluate stocks,
·
Check the good financial health of his client,
·
Be aware of new national and international
legislation (etc.).
The auditor is generally an auditor or a chartered accountant, he can
also be a graduate of bac + 5 (master 2) in a financial field. A good auditor
is attentive and rigorous in his work because it is he who certifies the
financial state and the conformity of the documents of the company calling on
his services.
Internal Audit
The auditor (or audit team) is employed by the company. He controls,
verifies, inspects and monitors the company's accounts with a critical view.
The audit can be financial or accounting and financial.
External audit
The auditor is outside the company. As an auditor is external to a
company, his mission is always an external audit. The points to be checked will
not be fixed by the company being audited but by the sponsor. As in the
internal audit, the auditor will prepare a report which he will then submit to
the applicant
Third party audit
This form of audit is controlled by a neutral entity, generally an
organization granting certain certifications to ensure that the company being
audited respects the rules in force. The audit once carried out will highlight
certain points which will determine or not the obtaining of an ISO standard for
example.
The importance of performing an audit
Analyzing the functioning of your company on as many points as
possible is very important and can be of little help. Indeed, the fact that an
accountant attests to the veracity of the accounting entries allows the legal
person to prove its good financial standing. In addition, in terms of
efficiency, it can be useful to know whether management is effective or whether
it must be changed in order to improve it.
The primary role of the auditor is to provide solutions to his client
if he finds deficiencies so that the latter does not repeat the same errors.
For this, the auditor will follow and help his client in the implementation of
these new processes. So beyond the control mission, it is a real opportunity
for certain companies which do not succeed in solving certain recurring
problems in their internal functioning.
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