What are the Factors to Consider When Switching to a Better Audit Firm?
As a business owner, you commit to ensuring that your company is compliant with the laws and regulations to avoid conflict. You expect that your external auditors do the same. If they don’t, you might see that switching to a better-performing audit firm in Singapore is the better choice.
Making sure that the switch would be a success, here are the factors that you should consider:
Read your contract
If the issue of your current audit firm is underperformance or disservice that has been covered by the contract, the switch may be a smooth process. A violation of the contract will terminate all services that they give you immediately. So, you could work with your new firm as soon as it has been settled.
Ask for previous financial reports
The team that has worked with you are the people you must approach when you want to get the financial reports of your company. It will have essential information that your next firm would find useful in fulfilling the sustainability reporting services you will get from them!
Remove all their access to your cloud
To have a smooth financial process, you must have invested in a secured cloud where your auditors can access it. Without a contract, you are allowed to remove them from having access to your company cloud storage. Instead, give them to your new audit firm partner.
Data security gap reports
You must have found a firm that also offers risk advisory services to secure your company’s data. It would speed up the process if they have a report that states some gaps in your protective measures. Your previous firm may have reports of that, so consider asking them.
Saying goodbye
Even with the quality of service that your previous firm had given you, bonds must have taken place. If so, it is only polite to say goodbye to your former business partners. Remember that they are friendships that may be stronger outside of work.
Do you want to get efficient sustainability reporting from a Singapore audit firm? Contact Nexia TS!
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