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Emiral and Bailén 20

Emiral and Bailen20 collaborate to make financial and accounting procedures easier for companies

Offering the best service to our clients is in Emiral's DNA. For this reason, we have decided to go one step further and start collaborating with companies linked to our services with the aim that brands find what they need in trusted companies. We began these collaborations with the leading company in financial auditing, tax, financial and accounting advice, commercial advice and actuarial services: Bailen20

What unites Emiral and Bailén 20

Emiral has high expertise in the implementation of ERP for accounting and financial management. More and more companies automate these functions for several reasons: one of them is agility, since automation saves time and, therefore, costs; centralization, which makes it possible for all the information to be in the same place and, finally, real-time updating. In this way, any documentation that administrations may request is within reach.

Closely linked to accounting and financial management are audits. All companies undergo audits to verify the financial and accounting status of their activity. To do this, it is necessary to have a company specialized in auditing and advice, such as Bailén 20. In this sense, the collaboration between Emiral and Bailén 20 represents important benefits because it is the union of two companies that look after the interests and stability of the business. .

Advantages of collaboration

The fact that the company that implements an ERP maintains continuous communication with the auditors is essential, especially in complex moments, such as inspections. 

Seamless and transparent communication between both parties plays a crucial role in creating an efficient business environment and ensuring the integrity of financial data.

1. Clarity in audit requirements:

Effective communication between the ERP company and auditors begins with a clear understanding of audit requirements. Auditors need access to accurate and detailed information about business processes, financial transactions and internal controls. Open communication from the beginning makes it easy to identify key data and ensures that the ERP system is configured to collect and present this data effectively during audits.

2. Business process alignment:

Good communication involves close alignment of business processes with audit standards. ERP and audit teams must collaborate to understand business workflows and ensure that the ERP system accurately and completely captures all relevant transactions. This not only improves operational efficiency, but also makes it easier to identify potential risk areas during audits.

3. Data integrity:

Auditors rely on the integrity of the data to make accurate assessments. The ERP company must ensure that the data stored in the system is accurate, consistent, and properly supported. Constant communication about changes to business processes or the ERP system helps prevent errors and ensures data consistency, thus strengthening auditors' confidence in the information provided.

4. Risk management:

Effective communication allows for proactive risk management. Changes in legislation, regulations or business structure may affect the way data is managed and audits are performed. Maintaining an open line of communication allows both parties to quickly adapt to these changes, reducing risk and ensuring ongoing compliance.

5. Improved efficiency:

Identifying areas for improvement during audits provides valuable information that can be used to optimize business processes and strengthen internal controls. Constant communication facilitates the efficient implementation of these improvements, resulting in a more robust system and greater operational efficiency.

6. Improved efficiency:

Auditors must identify and assess audit risk, for this one of the
The issues to be addressed in the audit are the client's computing environment.
The computer security function must always exist in all entities
that use these systems when they have a certain dimension, a function that must be well identified, totally differentiated from other tasks
related and enjoy relative independence in their verifications and judgments.

The objectives pursued are quite clear: investigate to know the security profile of the IT area, identifying those points that may be considered weak in security, to analyze the associated risks and issue the recommendations that are considered relevant in each case, proposing various solutions based on the cost/benefit binomial.

The areas to be covered will be all those related within the entity to the IT function, such as designers, implementers, users, or potential users thereof.
All this to conclude whether the degree of computer security is reasonable considering the size and specifications of the entity and the sector.

Without a doubt, for auditors it is an added value that the client has an ERP that can reduce the audit risk associated with the IT environment.

Services offered by Bailén 20

Bailén 20 has been providing solutions for companies in various sectors for 40 years, including education, technology, foundations, construction or transportation, among others.

The main services offered by the firm are the following:

  • Financial audit
  • Public sector audit
  • Special reports prepared by auditor
  • Subsidy supporting accounts review work
  • Systems audit
  • Consulting in corporate operations and bankruptcy administrations
  • Tax and accounting advice
  • Actuarial advice on business insurance
  • Actuarial valuations
  • Expert actions as independent experts, economists and actuaries

In summary, good communication between the ERP company and auditors is not only essential for successful audits, but also contributes significantly to business efficiency and transparency. 

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