Types of audits

Most common types of audit services include:

External audit (statutory audit)

These are the most widely used audit services. Examination of the accuracy of the financial statements is entrusted to external and independent auditor, who cannot be connected to the company or have any interest in the outcome of audit (no conflict of interests). The annual financial statement is certainly the main resource of accountability of the company. Since the financial statement is prepared and approved by the board of the directors, the shareholders of the company would rely on the external way to verify the report. Therefore, they invite external auditors. Moreover, regulations of many countries prescribe to run statutory audit on annual basis;

Internal audit (operational audit)

This is a voluntary pocedure of the organisation, willing to examine the effectiveness of inner control, verify and monitor possible fraud, check financial data, examine operational process and other activities. Basically, any company may conduct it for its own sake;

Tax audit

Tax audits are performed by tax authorities within regular intervals in some jurisdictions or in other randomly chosen countries. The purpose of the tax audit is to check company’s tax liabilities and to analyse accuracy of the filed tax returns;

Forensic audit

This is a special investigational audit conducted by legal officers and is often used in courts and investigation processes in order to determine frauds, tax evasion cases, money laundering and other illiegal actions within the framework of the company or its responsible officers.

 

 

 

Website applications for business

A corporate website can have various purposes, performing a number of internal and external functions to help boost the success of your business. Internal functions are related to the actions users take when already on the website, while external functions serve to bring clients to the site, i.e. they are related to how the website appears on other portals, such as search engines.

Internal business functions

Internal business functions relate to how your corporate website presents information to users and guides them towards conversion, i.e. the moment when a user becomes a (potential) client by ordering something or contacting the company. This is achieved through the use of web design tools, such as content layouts, call-to-action elements, landing pages and many others. A quality website ensures that a potential client is easily able to find what he or she is searching for, and is then guided towards making a purchase or placing an order.

Another important function is to create a pleasant general user experience. A user is more likely to want to become a client if he/she enjoys the website in general. This is also linked to the fact that an abundance of interesting product-related information makes clients feel a lot more confident about their actions — they feel that in purchasing your product they are making a well-informed choice, which, again, increases the likelihood that they will actually want to buy it.

External business functions

A website’s external business functions relate to how potential clients are drawn to the site, before they have had a chance to see what it contains. This is a particularly important task, as if a client does not enter the website, he/she cannot use it to make a purchase or carry out any other kind of interaction. Websites achieve this goal by optimising their content in such a way that makes it visible to search engines and ensures that whatever the user sees is relevant and attention-grabbing, encouraging them to visit the site.

There are many additional ways to ensure that your company website attracts the interest of potential clients, most of which are linked to the amount of additional information displayed in search engines — maps with your address, illustrations from the website, a list of the site's sub-sections, etc. The more abundant this information, the more trustworthy the company looks; this is achieved by careful manipulation of the website’s content, so that search engines deem it worthy of such a detailed description.