Why do I Need an Audit?
The need for good governance applies to all businesses. External audits along with professional advice can assist your company to better cope with your operating environment and expand your enterprise. In addition to this, market research has shown that quality external audits lower perceived risk, which increases confidence and reduces cost of equity capital.
The financial collapse our economy has experienced is largely due to the failure of financial institutions and regulatory agencies to require audits. We are now seeing that markets are no longer willing to accept risk. Regulators, financial institutions, investors, bonding companies and other key decision makers are beginning to see unaudited financial statements as having a higher degree of default risk and this can affect your company's access to credit, job markets, and expansion.
Prosperity and compliance requires reliable financial information and sound corporate governance. External audits protect the interest of stakeholders and provide a level of comfort to decision makers. An audited financial statement places assurance that the financial information is reliable and complies in all material aspects with the relevant accounting framework. This enhances corporate accountability and leads to the creation of wealth for stakeholders.
External audits are also the basis for tax computation and filing and if used appropriately, will reduce the likelihood of inappropriate tax returns resulting in unnecessary tax penalties and interest. Furthermore, recommendations from external auditors, if properly implemented, can improve your company's internal controls and act as a deterrent against fraud and misappropriation of funds.
Who Should Perform my Audit?
We distinguish ourselves as auditors from other accounting firms by providing a value added service to management and officers while producing reliable financial statements that are timely and cost effective. Our audits are tailored to your company or organization and its needs. How do we do this?
Before we begin performing audit procedures we gain a thorough understanding of your goals, industry, operating environment, internal controls and financial history. Utilizing analytical tools, we also identify potentially troubled areas in advance of performing our audit procedures. This information allows us to design a risk based audit approach that focuses our testing on the key financial areas of your organization, saving time and money.
Our highly experienced staff is knowledgeable in generally accepted
accounting principles and generally
accepted auditing standards. We are members of the board of the American Institute of Certified Public Accountants, the Nevada Society of CPAs, Center for Audit Quality and Government Audit Quality Center.
The audited financial statements we issue are designed to provide only valuable information in an easy to understand format. We include all required and relevant financial statement disclosures that allow stakeholders and end users to make complete and informed decisions.
Each one of our audits includes the issuance of a management letter to the board of directors, stakeholders and audit committee. This letter provides valuable recommendations that we developed during the course of our audit to help improve accounting efficiency, provide greater protection of financial assets, reduce waste and increase cash flow.
Most importantly, we follow our own advice. To ensure quality of our auditing services we have participated in the AICPA Peer Review Program since its inception and are among the first Firms to do so. Our Firm has received the highest level of quality assurance in each of its Peer Reviews.
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