The success of our business is linked to your success.
There are many different ways of measuring success and appraising financial performance. Most businesses establish long term strategic objectives and strive to achieve these by setting short to medium term goals, measured through key performance indicators (KPI’s) and key financial ratios.
Here are a number of important aspects of varying complexity to consider:
- are the accounting policies adopted most appropriate to the circumstances of the business?
- have you established the right set of KPI’s to measure performance?
- are the controls and monitoring procedures in place adequate to ensure the accuracy of the data used to calculate the KPI’s?
- how robust/realistic are the assumptions underlying your financial budgets/projections against wish you measure performance?
- is the methodology used to allocate central overheads appropriate?
- are you monitoring both utilisation and recovery on time-based systems?
- do your KPI’s adequately cover work-in-progress and trade debtors?
- does staff remuneration vary based on financial performance?
- if your business is a partnership, is the calculation and allocation of profit fair and reasonable?
We have a large and diverse client base covering many different business structures and industry sectors. More importantly, we have a wealth of practical experience undertaking performance audits. This work can result in significant savings for our clients.
Contact Iain Binnie, Mike Crerar or Paul Marshall to find out more about our audit and assurance services.