Do you need an audit on the Gross Turnover (GTO) for your retail outlet?
In today’s retail tenancy agreement, there is a general provision for additional rental based on a percentage of gross sales generated from the retail space outlet. The Gross Turnover (GTO) audit shall verify the amount of sales generated for the relevant period.
For more information about our audit services, please feel free to contact us.
For any business looking to run within the retail sector of Singapore, having a GTO Audit carried out is essential. This is a specifically put together audit system which will take a look at a Licensee’s schedule of gross sales. By looking at all of your licensable activities that fall under jurisdiction of the Lease Agreement you’ve signed, our audit ensures all parties are happy with the results they are receiving. These are very useful audits to carry out to ensure that you can meet your landlord-tenant lease agreement. Many of these carry a monthly audited sales report, and we can help you to ensure that such an audit is produced in good time.
This will make sure that you can give validation to the kind of work that is being carried out on your premises. This is an important part of business inspection, and at WZ WU & Partners we can make sure you always pick the right person to carry out your GTO audit. With our help, you can have your books forensically inspected and investigated to ensure that you can have conclusive, professional evidence to show the required parties to help determine your monthly gross sales turnover.
There are many reasons why you should look to have a GTO audit carried out as soon as is possible. One benefit Is that you will be able to comply with your lease agreement. Many leases will simply not be provided without an agreement to show off an audited sales report come the end of the process. If you wish to obtain your lease, you will need to have audited monthly reports.
This provides your landlord with the certainty they need to ensure they can keep on letting you lease the location. After all, they need to know that your business is meeting its requirements. This will ensure that the gross sales amount that is being mentioned in your financial statements are both complete and in keeping with the reality of the figures. This is why a full and proper GTO audit so important.
By helping you to spot potential signs of ‘revenue leaking’, you can avoid wasting valuable resources and thus improve the scale of profitability that your business benefits from. This will also help you to make sure that you can identify any and all previously unrecorded revenues, making sure you can get the best possible experience moving forward.
Sound like what you need? Then you need only contact us today. For us it’s a major part of being in the industry: helping companies to ensure they have a GTO audit that fits with reality. With vast experience in GTO auditing and other forms of corporate auditing in Singapore, we make sure you can always get things done correctly.
Let us know what you are looking for, and we will make sure that the results and information that you receive is accurate and easily usable to help improve your long-term business prospects. For more information, feel free to contact us today.
Frequently Asked Questions (FAQs)
