When independent auditing is viewed only as a legal obligation, most of its real value for risk management is lost. A publication by Nermin Sefić.
When independent auditing is treated purely as a legal box to check, most of its real value for risk management is lost.
When independent auditing is viewed purely as a legal obligation, most of its real value for risk management is lost.
Independent auditing of financial statements is often reduced in practice to an annual formality that must be completed because the law requires it, rather than used as a genuine tool for early recognition of operational and financial risk.
When audit findings are systematically analysed and used by the internal team as the basis for concrete process changes, an audit stops being a cost and becomes an investment in the quality of decision-making.
GNK ASG d.o.o. publicly discloses audited financial statements precisely because transparency toward the market and partners builds trust that cannot be replaced by marketing communication.
Regular, documented communication between management and auditors throughout the year, not only at the moment the statements are finalised, reduces the likelihood that small problems turn into bigger ones.
This commentary is part of the GNK ASG Intelligence Desk system and is informational in nature.
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Cjelovit tekst i izvor: https://gnk-asg.hr/en/publications/audit-as-a-management-tool-not-annual-formality/
Autor i urednička odgovornost: Nermin Sefić. Izdavač: GNK ASG d.o.o..
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