Is audit a value-add service?

funnylike
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In the same way an oil change adds value to your car.

like

this is so wildly accurate on so many levels.

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To markets? Yeah. To companies? Not really.

likefunny

Of course not. Have you heard of Luckin’ Coffee?

likefunny

I also think that particularly some private clients see us as a crutch because they don’t have faith in their own management to produce GAAP financial statements on their own. So that’s kind of a value on the private side.

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Word

Audited financials lower a company’s cost of capital. Some audits add more value than others I would say - but thats because of a function of the client relationship.

Not value add for companies that have their shit together. The real value is for the shit show companies or ones with nothing but bookkeepers for an accounting function.

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