We perform assurance work and assist in the preparation of your compiled or reviewed financial statements in which we can detect and/or identify problem areas in your accounting system. As part of our services, we submit a recommendation letter to help you improve internal control procedures, operational effectiveness and efficiency, and financial reporting.
In this phase we obtain an understanding of the entity’s operations, control environment, accounts and information systems.
We use our understanding of the entity’s internal control system and operations to identify the inherent audit risks and strengths of its businesses and information systems. By performing this risk assessment, we can customize our audit approach to focus our efforts on key areas.
We will evaluate the entity’s operations and its internal control system. Based on the results of this evaluation, we determine the extent of our substantive testing.
When appropriate, we use audit software to perform substantive testing. This enables us to retrieve information from data files, if needed, without affecting the integrity of the data.
We conclude on both financial statement and management letters to meet requested reporting deadlines. Drafts of all of our reports are provided to management for their input and review shortly after the conclusion of the fieldwork.