Many business owners think audits are much of a muchness, but their quality can vary significantly. In some cases, the process itself and the client relationships formed can have a lasting impact; enabling the business to take decisions that could set it on the path to a more profitable future.

The annual audit is sometimes regarded as a commodity purchase. Business owners may take the view that if they have got to have an audit, it might as well be as efficient and hassle-free as possible.

While this approach is understandable, it is important that decision makers do not overlook the value that a well-executed audit can bring.