Businesses hire external auditors to examine their business records and assess the fairness of their financial statements through the issuance of an auditor’s independent opinion or report. Audited Financial Statements are usually used by regulatory government agencies where the … [Read more...]
How to Improve Internal Control in a Small Business
There is always a risk in every business. It is an inevitable fact that unpleasant incidents happen to a business, like price overcharging, theft and embezzlement of assets (cash, inventory and other assets) that involves outsiders, customers who shoplift, dishonest employees, … [Read more...]
Tips on Choosing an External Auditor for Your Business
Whether you’re into big or small business, a third party review in your business operation could create a favourable position for your Company. In financial reporting, external auditors are the third party who perform an independent review or conduct an audit on a company’s … [Read more...]
Why Business Owners Should Listen to Auditors
Foremost, what is an auditor? By definition, it is an individual that is responsible for evaluating some aspects of a project, business, or individual. An auditor accumulates and evaluates evidence to report on the degree a company's assertions comply with an established set of … [Read more...]
What is Accounting?
Most of the readers and visitors of this blog are business owners and entrepreneurs. Thus, we decided to publish series of articles that will help them understand the field of accountancy, which includes accounting, bookkeeping and auditing. But since this field is broad, we will … [Read more...]
Sample Audited Financial Statements (Philippines)
Are you looking for a sample of audited financial statements of companies in the Philippines? Perhaps, you’re just searching for samples of balance sheet (statement of financial position), statement of income, cash flow, statement of changes in equity, or the complex notes to the … [Read more...]