Running a business can be quite challenging! Taking care of the operational, financial and administrative sectors sometimes requires outside help to keep things from getting out of hand. Two widely used alternatives are consulting and auditing, which, although similar, are different concepts. In this text we will tell you what they are and in what situation to use them. Check out!

Consultancy

The consultancy aims to analyze the company in all areas and sectors, identifying, through research, the points that can be improved and those that are on the right track. In addition, consultants can be hired to help managers make certain decisions, hold lectures for employees and assist the HR sector with employee management.

Audit

Unlike consulting, auditing is more focused on specific sectors of a company, and generally works in the financial and accounting areas. Its purpose is to analyze whether transactions are being carried out correctly and within the law. In addition, in companies that are composed of shareholders, it is a way of proving that funds are not being embezzled and the bills are being paid.

Challenges faced

As we have seen, consulting and auditing have the function of identifying situations that need to be improved within an organization and helping managers with the administration of the various departments that make up the company. However, both consultants and auditors may face some challenges in carrying out their tasks.

One difficulty may be the non-acceptance, on the part of employees and managers, of the new ideas proposed after the analysis of the various sectors of the company. It is common to find, linked to this problem, resistance in changing the way a job is performed or possible expenses necessary to adapt the production process of a task.

Another factor that can make the work of consultants and Auditors in UAE difficult is in relation to the company's culture. The challenge is to convince managers that, for some points, it is necessary to accept changes in the methodology for carrying out the work.

Consultancies and audits are quite similar, but they must be used correctly by companies. It is also worth noting that these resources do not need to be used only when a company is in poor financial or administrative health! Even in times of high tide, it is interesting to have this kind of help to avoid bad times.

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Ahmad Alagbari Chartered Accountants

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