External auditors in Tanzania also assist businesses who have their own accounting team through their auditing services. Here they will assess their client’s financial information to find out the effectiveness of their financial activities. As part of this activity, they will check if financial transactions are taking place properly and if they are in accordance with government laws and regulations. The competence of your company’s accounting team will come to light here. If there are any discrepancies in accounting procedures they will be tracked and brought to light. In case any activities are not up to the mark, changes will be suggested. They also assist in identifying and controlling financial risks. Their internal audit will make a review of your operating activities to determine their economy and efficiency.
It is vital to keep track of financial transactions and accounting activities related to them in order to run a business smoothly. If financial transactions and accounting books show discrepancies, you will be held responsible. Taking the services of external auditors helps to keep your books and accounts in order and ensures that all accounting tasks and tax payments are done in accordance with government laws and regulations.