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Our passion for auditing extends beyond just instilling trust in our clients' financial statements. We know that a clean audit opinion is often the final hurdle for our clients to receive the grant funding, be approved for the loan, or win the customer or project. By providing these services, we help our clients to achieve their purpose and support their own customers, employees, vendors, and other stakeholders. And we take great pride in that!Â
We also understand that accounting is often subjective, accountants are imperfect, and running a business is hard. We specialize in helping our clients get to a clean opinion and an aesthetic set of financial statements that they can be proud of, and that their banker, customer, or donor will trust.
To accomplish this, we take OWNERSHIP of our responsibilities, gain CONFIDENCE in our abilities through experience and education, act PROACTIVELY in anticipating problems and designing solutions, feel EMPATHETIC to our clients' struggles, and do our work with high QUALITY.
To ensure an effective and efficient engagement, we've designed our process in the following 6 phases:
Preliminary Engagement Activities
Preliminary Engagement Activities
This phase entails the bidding and proposal process, as well as bringing the client onboard and setting them up in our systems.
Planning
Planning
This phase is arguably the most important. The more time we invest in planning the audit, the easier the rest of the phases will be. We first gain an understanding of the company and its industry, as well as its accounting processes and internal controls. Based on this understanding, we determine where it is likely the financial statements might be misstated, and then we decide what audit procedures to perform in response to those risks.
Fieldwork
Fieldwork
This phase is what might come to mind when thinking of an audit. In this phase, we ask for invoices or other supporting information for transactions made by the company during the period. And through this information, we determine whether the accounts and transaction classes are materially accurate.
Concluding
Concluding
During this phase, we review all the work we have performed and determine whether we have performed enough testing based on our risk assessment determined in the planning phase. We also compile a list of all the misstatements and determine their materiality, and request management correct the misstatements if material. We might also clean up our work papers and follow up on any outstanding items at this time.
Reporting
Reporting
This is the final phase of the audit and the culmination of all the work we have performed: preparing the audit opinion report and submitting it to the company's management.
Post-Engagement Activities
Post-Engagement Activities
This phase wraps everything up and helps the client understand our findings. We also perform a lot of administrative functions to archive our work papers and reports.
To learn more about our process, purchase our books on Amazon:
Your First Audit: Know What to Expect
Your First Review: Know What to Expect
If you are interested in our services, please Request a Quote. If you are interested in our careers, please Join our Team.
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