Analysis of a company´s accounting system and design for its optimalization
BDO Audit s.r.o. as part of the accounting methodology services offers also Analysis of a company´s accounting system and design for its optimization.
A similar activity is performed by the auditor during the audit of a client’s financial statements. In this situation the aim of the auditor is to obtain a thorough understanding of the client´s accounting system, however he does not investigate all the connected issues and above all the auditor does not offer the client such a detailed analysis of the system together with proposals for its optimization which the new BDO product provides.
The challenge of this type of engagement is to come up with a design for the optimization of the accounting system to ensure that not only all legal requirements are fulfilled but at the same time the system also provides sufficient information for the management of the company with as low administration costs as possible.
BDO Audit has at its disposal a team of experienced accountants; statutory auditors registered by the Czech Chamber of Auditors, ACCA specialists and certified accounting experts.
This kind of service is primarily addressed to smaller and medium sized companies where managers often control their firm by quite different methods without taking advantage of the data which is available as part of the accounting system. The result is the loss of the possibility to effectively use for the management of the company the data which in any case has to be, due to valid legislation, contained in the accounting system.
One of our aims is therefore to propose, with regard to the particular conditions and with the agreement of the future users, a structure for internal reporting which can, in a straightforward way, provide information, for example, for managing the company as a whole or by cost centers, information regarding products (orders, services etc.), or comparison of planned and actual results etc. We will also suggest any necessary steps which would lead to the compliance of the system with valid legislation if we find any areas of non-compliance.
The final result of our work will be our report which will inform the client of the current status of its accounting system but above all will propose measures to optimize the system in the future.