You’re minding your own business one day and you get a tap on your shoulder. It’s one of your employees. They tell that there are two people at the front desk who would like to see you. You go downstairs and greet them. After exchanging pleasantries, they introduce themselves as auditors. If you know a thing or two about auditors, you’ll know they love to catch business owners with their hands in the cookie jar. They make unannounced visits because they know every trick in the book. Even with just a few days of advanced warning, some businesses can put on a brave face to save their skin. But they do this for a living, and if there’s something not right, you better believe they will find it. What can auditors do to you, you might ask? They will report back to governing bodies and institutions about the nature of your dealings and the quality of your workplace. Creating detailed reports, you will be held to account at every turn. So be aware!
No sloppy accounting
Absolutely every single dollar and penny has to be accounted for in your business. If you haven’t gone public with an IPO, you will still be audited but in smaller ways. You’ll be audited for tax and profit. They want to know if you’re paying your fair share of tax according to your performance reports. If you are a publicly-traded company, everything is going to be inspected. Accounting especially a hot topic since the ‘cooking the books’ accusation recently emerged of General Electric. Accounting is important because it assesses the health of the company in all major financial areas. Financial auditors look at accounting reports and will demand answers to all kinds of questions. Have you been paying the right amount of corporation tax? Have you planned your debt payment schedule? Are you accurately reporting on profits? Do you know how your current reserves will be used in the future? How will your performance affect shareholders and or stockholders?
For the future
The way the modern commercial world is heading, commercial energy efficiency is soon to become a hot topic like no other. It’s going to be one of the most important topics for any government in the world. There has always been pressure from certain groups, to push businesses to become more concerned about waste, energy efficiency and climate-conscious. In this day and age, it’s not just about upholding a standard but a public relations matter too. Any business found to not care about energy efficiency in their own office buildings will suffer from consumer backlash. That’s why learning a thing or two from the AABC Commissioning Group will benefit your building internals. Everything from heating systems, materials, designs, technologies and procedures will be discussed and taught to you. Commercial energy auditors will begin to make more appearances as the years go on.
Auditors are like investigators. They look at the internals of a company with a magnifying glass to make sure all is well. They care about the rules and standards, so every business is modernizing in unison.