SAS 134: Changes to Expect from the New Audit Reporting Standards
Our unique business approach recognizes that the primary objective of auditing financial statements cannot be completed effectively unless the entity behind those financial statements is thoroughly understood.
We spend a considerable amount of time developing a current understanding of our clients’ issues and needs. Knowledge of your organization brings a needed perspective to more efficiently and effectively perform an audit of the financial statements.
The overriding concept of understanding your organization is to incorporate those procedures, and only those procedures, that will most effectively accomplish the defined objectives of each audit. We can hold a closing conference with your organization to assess the results of our efforts and how we might improve our service. We tailor our approach to meet the specific needs of each client. Therefore, we will properly plan and customize each audit to allow us to execute final fieldwork more effectively and efficiently and to meet your deadlines.
We have assembled a leadership team with specific industry experience that will be accessible and keep you apprised of our progress throughout the audit.
Extensive participation by the Member, manager and other technical resources in all phases of the audit, particularly in planning, ensures you will have experienced personnel involved throughout the engagement. Warren Averett uniquely positions its leadership team as your key contacts, thus allowing for efficient use of your time.
Recognizing that the accountant’s knowledge of your entity is cumulative, the staffing goal for our engagements is to provide as many of the same professionals to ensure that knowledge of the client is not re-learned each year. At a minimum, our leadership team serving our clients will remain the same.
Warren Averett is committed to providing clients with the most efficient, secure methods of communication. We provide, at no charge, Internet-based secure file portals.
These are client specific storage areas that allow information sharing and collaboration between Warren Averett and our clients. These provide secure data rooms as a means of sharing documents without size or delivery restrictions found with standard email systems.
More than just a report on an organization’s financial performance, our engagements typically provide recommendations for improving controls, efficiency and fiscal responsibility. We highlight areas of concern and where needed, help you develop pragmatic solutions. Our recommendations will be addressed throughout the engagement and during our meetings with your organization. In addition, we expect to provide input on issues affecting you throughout the year, and we encourage such communication throughout the year.
We will coordinate the timing of the audit with key members of management to ensure that work is completed in a timely manner and all deadlines are met.
Learn more about our team members’ expertise, insights and how we can help you thrive.
Questions about how we can help you or your business thrive, or want to learn more about Warren Averett? Get in touch with us today!