AuditLink Resources

The quality of any audit is dependent on the people who deliver it. Because of this, we have given careful consideration as to how we can provide the best quality audit and advice and add value to the organisations we audit.

AuditLink has an audit team consisting of a full time audit partner; an audit manager and six specially trained audit staff, all with a wide range of industry skills and specialist knowledge. This is the largest private sector resource base of specialist trained audit personnel in the Manawatu region. These personnel undertake audits not only for local organisations but for many entities throughout the country. The knowledge and experience of these personnel spans a wide range of organisations, businesses and sectors, including a particular focus on the education sector.

How to Add Value to Your Organisation?

Management often are required to have an audit and simply view it as a legal or constitutional imposition from which they derive no tangible benefit.

This view is based on the auditor’s responsibility to report to the members on the truth and fairness of financial statements. Management does not see any added value from this. Widen the picture and view the auditor as a business advisor. The possible ways the audit can be seen to contribute to the development of the organisation are then plentiful.

Manage Risk

An audit is a detailed assessment of risk – where auditors find a high risk they look at it extremely closely. Where auditors identify a risk from an audit point of view it is likely that in some way it also represents a risk for the business. The auditor’s assessment of risk benefits the organisation in two ways:

  • They are not closely involved in the day-to-day running of the organisation. They may identify risk issues of which management are not aware.
  • Their independent review helps to identify cost effective methods of reducing risks to the lowest practicable levels.
Constructive Business Advice

At the conclusion of any audit that we undertake we issue a management letter or business issues report. This letter or report communicates both strengths and weaknesses of the organisation.

AuditLink can use our detailed knowledge to give you commercially based constructive advice as to how the running of the organisation may be enhanced through improvements in internal accounting and control systems.

Enhance Business Decisions

The quality of decisions is only as good as the underlying information used. The information used needs to support decisions made and comes from the organisation’s management information systems.

The detailed review of the accounting systems performed by AuditLink may identify weaknesses leading to inaccuracies in information being relied upon by management.

The audit of recorded financial information also provides a periodic check that the management information being used as a basis for those decisions does not contain any significant errors. This may invalidate the basis on which those decisions have been made giving management an opportunity to revisit those decisions before, perhaps, it is too late.

Plan for the Future

When making important decisions it is often valuable to have a second opinion from someone outside the decision making process.

The auditor is an ideal party to fulfil this role. Having already built up detailed knowledge about the organisation during the audit, a wealth of background knowledge about the organisation will have been gained and the auditor is best positioned to make constructive observations on the organisation’s plans.

Comply with Legal Obligations

The legal requirements placed on management of an organisation include many statutory responsibilities, which may seem to have little to do with the effective running of an organisation.

In many cases the independent auditor will have to check on whether management are fully compliant with many of their statutory responsibilities in order to form their view on the disclosures made in the financial statements. This should help ensure that management do not go too far wrong.

An “AuditLink” audit is much more than just a statutory responsibility

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