What exactly do auditors do?

Auditors in Benoni are responsible for examining the financial and organisational operations of a business or person. They check that all parties are complying with the regulations set out by the relevant authorities.

Why are auditors necessary?

Auditors ensures that businesses, organisations and people are complying with industry standards and undergoing legal practices. If there is evidence of non-compliance, the relevant authorities can investigate the situation and take further action if necessary.

Do auditors/ inspectors undergo an auditing process?

Yes, all auditors should be audited. This helps to avoid errors and discrimination within the auditing process. The Independent Regulatory Board for Auditors (IRBA) is responsible for regulating auditing standards in South Africa.

What happens when you have been successfully audited?

You will receive a certificate of compliance when you have been successfully audited. It acts as proof that all operations are legal and meet industry standards. However, if the person, business or organisation is non-compliant they will undergo further investigation which could result in legal action.

How do I make sure that the auditing process is successful?

You can ensure an audit is successful by checking that you are 100% compliant with the law and industry regulations. All businesses can benefit from having a lawyer or legal team to monitor the business’s practices.

What are the benefits of private auditing?

Private auditing is not always necessary. However, a private audit report can give businesses in Benoni an indication of their current compliance status. It allows for the necessary changes to be made before facing serious consequences.

What kind of companies need to be audited?

1.Public companies listed on an exchange 2.State-owned companies funded or run by the government 3.Private companies with a public interest score of at least 350 4.Personal liability company 5.Non-profit companies There are different requirements for different businesses, organisations and people. State-owned companies and public companies in Benoni must be audited. In addition, private companies and public figures in Benoni must be audited to if it’s within the public’s interest. There is a public interest scoring system that determines whether the auditing is necessary. It generally applies to large corporations, politicians, business owners and celebrities. Not all businesses in Benoni need to be audited.

How often does auditing take place?

It varies depending on the industry. However, auditing generally takes place once every financial year. In addition, auditing might take place more than once if the business is under investigation for non-compliance or if a new audit report would serve public interest.

Are audit reports 100% accurate?

Audit reports are as accurate as possible. However, it’s impossible to monitor all the practices of a business, organisation or person. Sometimes, transactions take place that are not detected. However, there are reputable auditing firms in South Africa in Benoni which are known for producing fair and accurate auditing reports.

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Auditors in Benoni

Ally's Chartered Accountants

Actonville, Benoni

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