The Importance of Periodic Audits: A Personal Perspective

As I lead Erica Guglielmi International Legal Services Ltd, headquartered in the UK and operating globally, I have always sought to ensure that our operations are compliant with applicable standards and regulations.

The implementation of periodic audits has become essential, regardless of the size or structure of the company, to ensure the integrity and transparency of processes.

Operational Efficiency

Periodic audits allow you to identify flaws and inefficiencies in internal processes. During these assessments, it is possible to detect areas that require improvement, contributing to the optimization of operations, cost reduction and increased productivity.

This identification of opportunities for improvement is important for sustainable business growth.

Legal Compliance

Audits ensure that all operations are aligned with current legislation, avoiding possible legal sanctions and damage to corporate reputation.

Compliance with standards and regulations is vital to maintaining credibility in the marketplace and building trusting relationships with customers and suppliers.

Transparency and Trust

Clarity in internal processes, provided by audits, increases the confidence of customers and partners.

A company that demonstrates commitment to transparency and integrity in its operations gains the trust of the market, which is essential for establishing solid partnerships and attracting new business.

Continuous Improvement

Audits provide valuable insights into internal processes, allowing you to identify opportunities for continuous improvement.

By critically analyzing operations, it is possible to implement changes that result in greater efficiency and effectiveness, contributing to the company's competitiveness and innovation in the market.

Informed Decision Making

Reports from audits provide important data for making more assertive strategic decisions.

With accurate information about operational and financial performance, it is possible to plan future actions with greater security, aligning the company's objectives with market demands.

Conclusion

Regardless of the size or organizational structure, carrying out periodic audits is essential to maintain the integrity, efficiency and compliance of a company.

My personal experience reinforces that, by adopting auditing practices aligned with best governance practices, it is possible to achieve high standards of transparency and corporate responsibility, which are fundamental to the success and sustainability of the business.

References

- Department for Business, Energy & Industrial Strategy (BEIS). _Restoring trust in audit and corporate governance_. Available at: [https://www.gov.uk/government/publications/restoring-trust-in-audit-and-corporate-governance]

(https://www.gov.uk/government/publications/restoring-trust-in-audit-and-corporate-governance "smartCard-inline")

- Financial Reporting Council (FRC). _UK Audit Quality Report_. Available at: [https://www.frc.org.uk/getattachment/2a2f3c6b-1a3b-4f5f-8a3f-8b8b8b8b8b8b/FRC-Audit-Quality-Inspection-Report-2018.pd](https://www.frc.org.uk/getattachment/2a2f3c6b-1a3b-4f5f-8a3f-8b8b8b8b8b8b/FRC-Audit-Quality-Inspection-Report-2018.pdf "")f

- International Auditing and Assurance Standards Board (IAASB). _About the IAASB_. Available at: [https://www.iaasb.org/about-iaasb](https://www.iaasb.org/about-iaasb "smartCard-inline")