Extract
Auditing, controllership, and consulting are essential practices for (1) analyzing the past, (2) improving the present, and (3) preparing for the future of organizations. By examining the past to identify areas of improvement, managing the present to maintain competitiveness, and planning for the future to mitigate market volatility, complexity, and uncertainty, an integral management approach can ensure long-term transparency, efficiency, and stability.
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The Role of Audits, Comptrollers and Consultants
In today's business environment, marked by increasing competition, complex regulations and the need to quickly adapt to constant changes, companies must be able to adapt and evolve quickly to stay relevant and competitive.Â
It is no longer enough to follow traditional management practices; it is required to implement tools and strategies that guarantee comprehensive management from all aspects of the business. In this context, the audit, controllership and consulting functions provide unique and complementary perspectives on the performance and direction of an organization:
The audit examines the past to identify areas of improvement.
The comptroller monitors the present to ensure high performance.
The consultant projects the future to drive growth and adaptation.
The synergy between these three functions allows organizations to not only optimize their processes, but also operate under a compliance and responsibility framework that strengthens the organizational structure in all its aspects. Thus, you can learn from the mistakes of the past, overcome the limitations of the present and persevere in uncertainty to achieve a successful and sustainable future.
Audit: Analyzing the Past to Improve the Future
The audit focuses on evaluating, analyzing and verifying that a company's operations and records comply with established internal and external rules and regulations. Its main objective is to provide a clear and detailed view of the organization's past performance, allowing the identification of errors, fraud or inefficiencies in operations that may affect the reputation and reliability of the company.
When is an Audit Required?
The need for an audit, whether internal or external, is often due to the appearance of inconsistencies and errors that may involve fraud, regulatory non-compliance or poor management of resources. However, the best time to start developing an audit is in cases where:
There is a regulatory requirement to develop an audit function.
There are inconsistencies between financial, accounting and operational records.
The effectiveness and efficiency of internal processes and controls is unknown.
There are suspicions of fraud or poor management of resources.
You are looking to obtain financing or attract investors.
If you are considering a merger or acquisition.
How does an Audit Contribute?
The audit becomes the eyes and ears of the owners, revealing what really happens within the organization.
Comptroller's Office: The Role of Monitoring and Controlling the Present
The comptroller is in charge of the continuous supervision of the company's operations, ensuring that resources are managed in accordance with company objectives and plans. Its main objective is to implement policies, procedures and internal controls to ensure healthy business operations.
When is a Comptroller Required?
The need for a controllership arises when the growth of a company exceeds the owners' ability to maintain order and avoid lack of control in expenses and processes. Thus, the best time to start developing a comptroller's office is in cases where:
There is a regulatory requirement to develop a controller function.
We want to implement key indicators in the different areas of the business.
We want to avoid surprises and maintain a certain degree of stability.
There are constant conflicts between different areas of the business.
Tasks are not completed.
How does a Comptroller Contribute?
The comptroller acts as the arms of the owners, executing the necessary adjustments to keep the business on track.
Consulting: Designing the Future of the Organization
Consulting provides an external, specialized and strategic approach to identify and exploit growth opportunities. Its main objective is to provide recommendations and advice so that the organization can adapt, innovate and proactively anticipate market changes.
When is Consulting Required?
The need for a consultancy arises when the organization needs to rethink the strategic approach or design a shock/survival, innovation or expansion plan in a short time. Thus, the best time to hire a consultancy is in cases where:
Strategic objectives and guidelines are not well defined.
We want to develop the potential of the organization in a short time.
You want to know and/or adopt the latest trends in the market.
You want to obtain some ISO, IATF, OSHA certification, among others.
It requires knowledge that is not in the organization.
The business is in a critical situation.
How Does a Consulting Contribute?
The consultancy serves as support from the owners to drive change, innovation and growth within your organization.
Collaboration between Consulting, Audit and Comptroller
Consulting, auditing and controllership are essential functions in any organization that aspires to remain competitive, efficient and sustainable in today's market. Each of these practices, although independent in their function, complement and enrich each other:
The audit provides a vision of the past, identifying errors and successes that allow establishing a baseline for the comptroller's office.
The comptroller's office, in turn, ensures compliance with due process and facilitates consulting by providing vital information for the projection of future strategies.
Finally, consulting helps to improve and refine the processes to be audited and controlled.
Integrating these three functions under a corporate governance framework can create an effective and robust management system, where the past, present and future of the organization are continually aligned and in tune with long-term strategic objectives.
Working together, these functions allow companies to not only optimize their processes and ensure regulatory compliance, but also ensure the efficient management of their resources, striking a balance between growth, transparency and long-term stability.
Conclusion: A Corporate Governance Framework Supported by Consulting, Auditing and Comptrollership
The synergy between these functions allows companies not only to plan and project their growth, but also ensure that organizational strategies are implemented effectively and under a rigorous control framework, generating confidence in investors, employees, clients and other interested parties, by demonstrating that the organization operates with responsibility, efficiency and transparency.
In a constantly changing business environment, having a coordinated and transparent management approach is vital to addressing unforeseen challenges and ensuring that the business remains strong and sustainable in the long term., prepared to grow and evolve constantly and safely.Â
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About Yesenia Pellegrini (Author):
Consultant at TACs Consultores, specialist in the implementation of strategic solutions and digital improvements; seeks to optimize processes and ensure the success of our clients.
About Pablo Tellaeche (Editor):
Owner and main consultant of TACs Consultores, Lecturer and University Professor; seeks to bring a true and positive Culture Lean and Digital Transformation to any company with which you have the pleasure of collaborating.