Importance of an audited firm: Hiring an independent auditor would keep the firm on the right track and preventing them from getting into trouble with the law. An independent auditor would thoroughly examine financial records and the nature of business transactions on a daily basis. Whether it is a shareholder or investor, the auditor can protect them from being financially ripped off from individuals claiming to represent a certain company or even a fraudulent company proposing fake proposals. Another important reason for hiring an auditor is they tend to have a better understanding of a client’s financial proposals and statements. An independent auditor can come up with questions that may surprise the management and the staff in order to get a deeper understanding on how the firm functions and also identify possible fraudulent activities.
Benefits of hiring tax agents: Sure firm owners can deal with tax matters on their own although it might not be feasible when the firm grows in size. A firm that taste success and wants to dominate the market should be wise enough in hiring a tax agent to file income tax returns. Firm owners would want to get the best out of tax returns, for that to happen they need find a tax agent who is well versed when it comes to different rules of taxations. By allowing the tax agent to look after the firm’s financial matters, owners of the firm would be allowed to focus on other matters which probably have been delayed.
Thorough evaluation: Before a firm thinks of hiring a auditor or a tax agent, a thorough evaluation should be carried on part of the firm. A firm should ensure they conduct a detailed research of the organization that provides auditors and tax agents. For instance the agency should be licensed by the state to provide their services. It would be useful make a list of auditors and tax agents to choose from and study their backgrounds carefully. In order to avoid being scammed firms should never share their personal information with third parties claiming to represent the particular agency.