{"id":20041,"date":"2024-10-25T13:40:40","date_gmt":"2024-10-25T12:40:40","guid":{"rendered":"https:\/\/www.moorethompson.co.uk\/specialist-sectors-blog\/?p=20041"},"modified":"2024-10-25T12:41:10","modified_gmt":"2024-10-25T12:41:10","slug":"how-to-use-the-findings-from-your-auditor-properly","status":"publish","type":"post","link":"https:\/\/www.moorethompson.co.uk\/specialist-sectors-blog\/how-to-use-the-findings-from-your-auditor-properly\/","title":{"rendered":"How to use the findings from your auditor properly"},"content":{"rendered":"

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When I speak to clients about their audit report, I always advise them to try not to see it as a box-ticking exercise for compliance.<\/span>\u00a0<\/span><\/p>\n

In reality, it’s a useful tool for understanding the financial health of your company and identifying areas for improvement.\u00a0<\/span>\u00a0<\/span><\/p>\n

Regardless of whether it was undertaken for statutory compliance or not, the primary goal of an audit is to ensure that your financial statements give a true and fair view of your company\u2019s position.\u00a0<\/span>\u00a0<\/span><\/p>\n

However, a good auditor will go beyond just compliance, giving you insights into your operational risks, weaknesses in internal controls, and areas where you can enhance efficiency.<\/span>\u00a0<\/span><\/p>\n

As such, you should treat the audit as a learning opportunity \u2013 not just a statutory requirement.\u00a0<\/span>\u00a0<\/span><\/p>\n

Review key areas highlighted in the auditor’s report<\/span><\/b>\u00a0<\/span><\/p>\n

Once you\u2019ve received your audit report, you should carefully review the key findings.\u00a0<\/span>\u00a0<\/span><\/p>\n

I always suggest clients focus on:<\/span>\u00a0<\/span><\/p>\n