Bankers, investors and boards of directors among other stakeholders, require independent audits in order to discharge their responsibility of stewarding the resources within their direction and control. In an audit engagement, our responsibility is to express an opinion on financial statements, which are the responsibility of management, based on an audit conducted in accordance with generally accepted auditing standards. In essence, our report assures the reader that the financial statements are a fair presentation of financial condition and performance that is free of material misstatement.
Our approach to the audit process is a risk-based approach which focuses our attention and efforts in the areas of greatest financial significance measured in terms of the dollar balance outstanding at the balance sheet date, the dollar amount of income and expenses reported during the year, and the volume of transactions occurring within a given reporting cycle during the year. We base our audit decisions upon common sense, and we perform all drafting and work paper review on-site, thereby facilitating timely detection, communication and resolution of any issues and opportunities encountered.