What is a company audit?

The audit of companies should be carried out by an independent auditor. Only then will the assessment and subsequent documentation and new strategy be prepared objectively. Business audits can have different objectives and end results.

What is a business audit, what types of audits are there and what benefits do they offer?

Business audit - what does it involve?

Business audits are independent, objective measures. Their aim is to improve existing processes in the organisation. Depending on the needs, audits can vary. It all depends on the objective set before the auditor. However, every audit has a common denominator - assessing the condition and improving the efficiency of the company and optimising costs.

Independent business audits carry many benefits for the company that decides to carry them out. First and foremost:

• The company's audit will optimise existing processes and thus increase the effectiveness and efficiency of operations.
• Anomalies in existing processes, including fraud, will be demonstrated and a strategy will be developed to eliminate and mitigate the associated business risks
• Entrepreneurs will be identified with the potential risks of the study area
• Recommendations will be made for the correction of errors made
• Preventive measures will be identified, to be introduced in areas where irregularities have not been identified. The aim is to secure processes in the best possible way and to introduce process optimisation

The final product of the audit is a report, i.e. a report following its execution and a summary consisting of a demonstration of the anomalies identified and recommendations for improving the functioning of the processes.

Types of business audits

Company audit can have different objectives. Depending on the industry of the business being run and the areas that need to be optimised, the audit will be carried out differently.

Business audits that an entrepreneur can benefit from usually concern:

• Financial audit
• Audit of contracts
• Audit of suppliers
• Data security audit
• Performance (operational) audit
• Marketing audit
• Due Diligence Audit
• Legal audit
• Audit of risk management
• Individual audit (tailored to the entrepreneur's requirements)

Eveneum specialises in the optimisation of supply chain processes. We carry out contract audits, supplier audits, purchasing process audits and quality audits. We prepare and support the implementation of purchasing strategy and improving and optimising existing processes.

Purchasing Due Diligence includes, in turn, a full range of audits related to the efficiency of the purchasing organisation, purchasing contracts, suppliers and the flow of goods. We prepare recommendations for the development and improvement of internal processes and an implementation plan for the recommended improvements.

We invite you to contact us to find out more about the details and how we carry out business audits and deliver the final audit products.