Audit
Add it all up.
Regardless of how essential or innovative an organization’s products and services are, its real reason for existing is to achieve financial success for its owners and occasionally, other stakeholders.
Financial success is about more than just making money; it’s also about keeping a tight handle on what comes in and how it goes out. Often, the driving need to do that involves an audit. There are many reasons to conduct an audit, including enhancing accountability, detecting fraud, strategic planning, ensuring regulatory compliance and facilitating access to capital.
Key Considerations
Misconceptions.
People often think a financial compilation or review is equivalent to an audit. It’s not; audits go into far greater detail and probe more deeply.
Self-reliance.
Organizations justly want to have faith in their own people and systems. But people make mistakes and systems get glitchy. A thorough audit helps to uncover issues, often before they become problems.
Multiple platforms.
Technology can be a great help, but it also introduces new challenges. For example, organizations may use one package or service for bookkeeping, another for a payroll and a third to track billable time. A proper audit can reveal discrepancies between them, whether inadvertent or deliberate.
Expertise
At Singer & Falk, we’ve been conducting audits for a long time.
We make sure your books and records are ok, because we believe that’s the only way you can do business.
Our work includes both one-time and recurring audits, as well as those for internal and external purposes. Our comprehensive approach examines whether systems are functioning the way they are supposed to, that entries are properly made in the correct accounts and that everything on the balance sheet can be properly substantiated. We also spend a lot of time doing verification and test work.
For our staffing clients, we compare employee timesheets, payroll and client billings to ensure that everything aligns. While we work independently, we often serve as our clients’ eyes and ears, identifying potential issues with personnel or procedures and proposing workable solutions.
Contact us when you really need to understand what’s going on with your organization’s finances.
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