Auditing

The methodology is designed to more closely align our audit process with your underlying risks. It recognizes that by understanding your associated risks and their relationship to the inherent and control risk components of audit risk, we can develop more effective and efficient audit strategies, as well as provide timely communications to you.

 

We identify internal controls, including key performance indicators used by management, to determine whether processes meet their financial reporting objectives and the operating and compliance objectives that are relevant to the accuracy of the financial statements. Using a controls-based process approach, we evaluate and, when appropriate, test the effectiveness of internal controls and make a combined assessment of inherent and control risk for significant accounts and the related financial statement assertions.

 

With our increased knowledge of your institution and service area, and our greater focus on your identified risks, we utilize data analysis procedures to provide audit evidence from which we gain significant audit assurance or identify areas requiring further investigation.

 

We share our knowledge by giving our engagement team access to the firm’s expertise through our knowledge databases. These assist us to access valuable engagement knowledge with respect to:

• Addressing significant accounting and auditing issues

• Developing solution-oriented services for you

• Understanding industry-specific issues

• Keeping up to date with current developments, both inside and outside the firm

 

We aim to provide a high quality service by creating a team with the skill and experience to tailor our methodology and apply our knowledge to your needs. Emphasis is placed on staff continuity and knowledge sharing within the team.