Audit – Highest Level of Assurance
An audit provides the highest level of assurance. An audit is a review and objective examination of the financial statements, including the verification of specific information. All public companies are required to have an annual audit, but some nonpublic entities must undergo an annual audit as well. These include local governments, not-for-profit agencies, and other organizations receiving government grants.
Our work includes a review of internal controls, testing of selected transactions, and communication with third parties. Based on our findings, we issue a report on whether the financial statements are fairly stated and free of material misstatements.
An audit allows you to satisfy stakeholders as to the credibility of published information, facilitate the payment of corporate tax, goods and services tax, help deter and detect material fraud and error, and facilitate the purchase and sale of businesses.