Phase 1: Planning

We obtain an understanding of your operations, control environment, accounting and financial reporting systems.

Together, we agree on a timetable for service delivery.

  • smooth transition and an agreed-upon timetable
  • saves time
  • lessens staff burden
  • on-time service to review and address concerns
  • no surprises

 

Phase 2: Assessing risk

We use our understanding of your company to identify financial statement risks.

We customise our audit approach to focus our efforts on the financial statement risks we identify.

  • customised audit focused on risks
  • issues identified early
  • extent of audit effort commensurate with the level of risk, resulting in a more effective audit
  • audit team with a deeper understanding of your company to provide recommendations

 

Phase 3: Testing internal controls

We evaluate whether your significant accounting applications and financial reporting systems are well-controlled and whether such controls are effective. Based on the result of this evaluation, we design appropriate audit tests.

  • comprehensive assessment of internal controls and suggestions for strengthening internal controls
  • stronger internal control over time

 

Phase 4: Testing accounts and transactions

We use IDEA to perform testing and analyse your financial data files.

Our audit programs call for the use of IDEA, which helps teams thoroughly and quickly execute tests.

  • less time spent gathering and analysing data

 

Phase 5: Concluding and reporting

In the concluding phase of the audit, we bring together all the work performed by the audit team. The most experienced team members confirm that the financial statements make sense, based on their understanding of your company. They also ensure the delivery of a high-quality audit.

  • advice and recommendations to improve operations
  • an audit opinion from a firm with a reputation for high-quality audits