Retailers' Books

Progress, Volume X, Issue 10, 1 June 1915, Page 342

Retailers' Books

Value of a Sound Audit The question of auditing the books of private firms was interestingly touched upon by the president of the New Zealand Accountants' and Auditors' Association (Mr, E. W. Evans) at the recent annual meeting. ' ' You are quite aware, "be said by way of introduction, "that although the functions of our association are by necessity of a more or less passive nature, still I might say they are also of an observant character," Mr. Evans stressed the importance of retailers' books and accounts being properly audited. He particularly mentioned retailers, be said, because the final distribution of nearly all classes of merchandise passed through that channel of trade. to the consumer. It was therefore obvious that if the retailer is working on sound commercial lines and accepted business principles, his trading must be prosperous; if conducted otherwise, there could only be one result. "Might I suggest to commercial accountants," he continued, "that when opportunity arises they bring the importance of such audits and investigations before the notice of their principals' customers; for I feel certain that all will agree that it is only through

profitable retailing, a prosperous commercial reflection can be expected by manufacturing and wholesale houses. Consequently, in the evolution of business, the public accountant benefits in his professional capacity as auditor. '' *