HIGHEST LEVEL OF ASSURANCE
An audit provides the highest level of assurance. An audit is a systematic review and objective examination of financial statements, including the verification of specific information as determined by the auditor or by general practice.
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 fair and free from material misstatements.
Audits Not Just for Public Entities
All public companies are required to conduct annual audits, but some unlisted entities are also required to conduct annual audits. These include local governments, not-for-profit agencies and other organizations receiving government grants.
Moreover, some financial institutions require audits of nonpublic companies based on the financing amount and/or the bank's assessment of the company's risk. Additionally, companies with absentee ownership, such as those owned by investment companies or individuals who are no longer in business, may require an audit to examine their management team.