Lara owns a mid-sized company that has been in business for 10 years. The business has always covered its expenses, but it has never made the kind of profit that Lara anticipated when she started it. She decides to hire an outside accountant to audit her finances. How will this help her business?%0D%0A%0D%0A(1 point)%0D%0AResponses%0D%0A%0D%0AIt will dramatically improve the finances of the company.%0D%0A%0D%0AIt will dramatically improve the finances of the company.%0D%0A%0D%0AIt will let her determine whether or not the company is profitable.%0D%0A%0D%0AIt will let her determine whether or not the company is profitable.%0D%0A%0D%0AIt could let her know if there are issues with her internal accounting.%0D%0A%0D%0AIt could let her know if there are issues with her internal accounting.%0D%0A%0D%0AIt won’t help much since she already knows that the business is not very profitable.
Hiring an outside accountant to audit her finances will help Lara's business in several ways.
First, the accountant can provide an objective and unbiased assessment of the company's financial situation. This will allow Lara to better understand where the business stands financially and identify any areas that may be causing the lack of profitability.
Second, the accountant can help identify any inefficiencies or issues with the company's internal accounting processes. By improving these processes, Lara can streamline operations and potentially increase profits.
Overall, the audit will provide Lara with valuable insights and recommendations that can help her make informed decisions to improve the financial health and profitability of her business.