To ensure cost the effectiveness of our services, we understand that we must be flexible and willing to adapt to dynamic situations as they evolve. To achieve this, we begin by spending sufficient time planning each engagement and gaining an understanding of your organization and its operating and tax structure.
During the planning phase of an engagement, we perform detailed analytical procedures on significant account balances and transaction classes and couple them with insightful inquiries of key personnel involved in the accounting cycle. We also take the time to walk through significant account transactions to ensure that we understand how financial data is processed and reported by the accounting system. Additionally, during engagement planning, our professionals are actively involved and committed to the following engagement planning standards:
- Staff is selected with care to ensure that they are familiar with your industry;
- Senior managers are actively involved in each phase of the audit engagement;
- Engagements are planned in close collaboration with client management;
- Engagements are planned and coordinated to minimize disruption to client operations;
- Engagement managers ensure that our efforts concentrate on areas with greatest risk;
- Our professionals maintain open lines of communication with client management; and
- We document your internal controls and if we plan to rely upon them, we test them.