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Ensuring Confidence Through Precision

The importance of financial statement accuracy can’t be overstated. Stakeholders must feel confident about your numbers, controls, and due diligence. We recognize that business models and accounting have evolved. We employ the latest in trusted technology, security, analytics, procedures, and licensed professionals to ensure an effective and efficient audit process.

Financial Statement Audit Procedures

A financial statement audit includes five distinct phases:

  • Planning & Preparation
  • Risk Assessment
  • Developing an audit Strategy
  • Gathering documentation
  • Finalization

Developing an Audit Strategy involves crafting a comprehensive plan tailored to the unique aspects and risks of your organization. This includes designing a meticulous audit plan covering all financial statements and assessing identified risks. Task assignment and timeline establishment follow, strategically allocating responsibilities and ensuring efficient audit processes. This strategic approach sets the groundwork for a successful audit, providing precise insights into your organization’s financial health and compliance.

Planning involves initial client discussions where we discuss all financial statement audit requirements and ensure you understand the difference between audit, review, or compilation. We complete any formal contracting, build your audit team, and establish the audit’s breadth.

Risk Assessment is the phase where our deep understanding of your industry, business, supply chain, and local business environment comes into play. Assessing risk involves judgment decisions based on numbers and environmental factors. Failing to adequately understand the risks could lead to misstatements that damage stakeholder trust.

Gathering Documentation is essential. Financial statement audit services must verify accuracy and generate stakeholder confidence. This phase involves testing internal controls, tracing numbers back, and ensuring you have supporting documentation. If something is missing, we work to obtain that third-party documentation from vendors, etc.

Finalization is when our CPA revisits the plan to ensure everything has been done. We review the results and use our professional judgment to state that this audit is concluded. The conclusion comes in the form of an audit opinion statement.

Provide Stakeholder Assurance with our Financial Statement Audit Services

Your stakeholders must feel confident in the accuracy of your financial statements. Raising capital, getting a loan, and making what stakeholders see as risk-aware business decisions all rely on the accuracy of financial statements.

accountants showing Financial Statement Audit Services

What Can You Expect?

You can expect us to clearly communicate what you must do to prepare for a financial audit and ensure you have all your questions answered when choosing between assurance and audit services.

We review your technology, controls, record-keeping procedures, and accounting practices. We will compare internal records to third-party ones to identify potential discrepancies. As needed, we may make suggestions to streamline your accounting so that each time you get an audit or assurance, it runs smoothly.

During each phase, trust that we’ll stay in complete contact with you and those you have working with us. We want you to feel informed and up-to-date as the audit progresses.

Why Choose DHJJ?

DHJJ provides comprehensive and tailored business consulting and financial services, including financial statement services. We’re committed to building lasting relationships by prioritizing your success. We take the time to learn about your company beyond the books, getting to know your leadership, operations, unique challenges and opportunities. Let’s get started.

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Areas We Service

Make your business stronger and your life simpler. Listed below are the areas we service! Please reach out if you do not see your location listed!

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