Do you really need a business health audit? Consider your business as a living entity because it already is a separate entity – as per definition from the disciplines of Finance. Moreover, it is also evident that your business is based on the on-going principle as well. You might not have heard these terms before but being a competent business in the market, you must have an idea about these terms.
Business is a Separate Entity
A business is totally a separate entity from its owner. This means that the business itself is a ‘thing’. The time has gone when the owner was considered to be the core of the business. But nowadays, the business models have evolved into more effective designs. The owner is just an owner who can withdraw money, make profit, hire, fire, or do whatever he’s supposed to do under the umbrella of code of conduct.
The second principle is the on-going principle of a business. Every business is started on the assumption that it will last forever. Every decision made by the managers is based on the assumption that the business is going to have an unlimited life. These two principles rise a very basic question that how it’s going to survive in the long run after all?
Business Health Audit
This is where the concept of regular audits comes in. You must know where your business is going, on what path your decisions are going to take you, and other important aspects as well. To keep your business pulses healthier, you need to conduct proper audits frequently. These audits will identify the bottlenecks in the processes that can be removed later in the course of business.
Freedom Media provides variety of business health audits. Our team of professional auditors conduct unbiased audits to generate credible findings for better decision making.