How many companies actually follow auditing procedures and evaluate their ausdit results.

Audit is always useful. If someone goes through the audit reports, he/she will find many economically vital points. I have been working with an audit firm for the last couple of months. My experience tells me that some companys are very particular about their audit reports and they have really benefitted from these reports. For small companies the major obstacle is capital contingency, irregular tax settlement, labour payment. But if they go through our reports they will be able to take care of this problems. I know a small firm trying hard to make a tuarnaround who has taken the audit report seriously and appointed an accounts consultant for their accounts and taxation issues.

Audits are useful and they are necessary. Not only do they help ascertain the expenses made but they also measure the income that the company has made and validates the expenses!! its easy when such audits are done to understand the direction the company has taken is right or does it require a radical change..

Audit is the process that will if conducted regularly assert the steps taken and the results achieved!! This is a process of validation and justification... It has its merits and it should be integral to all companies!!

Thanks for the referral.. :)

Abhishek I don't agree with your views.

I have been in the internal audits as quality Assurance manager and have observed external audit results. Organisations take the observations seriously and educate the team in getting the required quality level through process guidance and through quality managers.Now Quality Assurance is taken seriously among the competitive world and to win the customer

With this quality consciousness, they execute customer centricity projects also benefitting the customer and the organisation

Certification is also one of the factor but it is not the only factor.