How To Open Your Own Audit Firm

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How To Open Your Own Audit Firm
How To Open Your Own Audit Firm

Video: How To Open Your Own Audit Firm

Video: How To Open Your Own Audit Firm
Video: Big 4 Accounting Firm vs. Starting Your own Business (Deloitte KPMG, Ernst & Young PWC #cpaexam #cpa 2024, December
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Like any business, setting up an audit company requires careful analysis and planning. Your first and foremost step will be to develop a business plan. In addition, it is necessary to choose the right direction of the company and resolve legal issues.

How to open your own audit firm
How to open your own audit firm

It is necessary

  • - Premises;
  • - licenses;
  • - necessary equipment;
  • - staff.

Instructions

Step 1

Determine the types of checks you will be conducting. Independent financial audits may require specialized training in the industries in which you will be involved. Internal audits may require nothing more than a college degree in accounting or business.

Step 2

Create a business plan - a map on which you will build your business. No matter what level you have reached in running a business, you should always be able to draw up a modern and up-to-date business plan. The business plan should include a resume, market analysis, company description, marketing and sales management, services, financial needs, and financial reporting.

Step 3

Determine the legal form of your business. Most small businesses are created in limited liability form due to simplicity and tax incentives. Your business plan must match the chosen legal form.

Step 4

Start implementing the plan. The most important part will be marketing your services. Initial financing will not be so difficult, as this type of business can be opened for relatively little money, but you must have enough funds in stock. You can join one of the audit teams or networks in the industry in which you will be involved.

Step 5

Strive for a high level of service from the company. When you have your first customers, do your best to meet their needs. Remember, dissatisfied customers can serve you up with negative advertising. Also, depending on the type of audit that you plan to provide, you can offer clients additional services that are in your area of interest. Don't forget to promote your company by creating media advertisements.

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