Outsource Financial Auditing

High Significance of Financial Auditing

The purpose of financial audits is to obtain relevant information about the organization's accounts and the transactions and decisions regarding allocations on which they are based. This is to enable auditors to form an opinion of reasonable assurance whether the accounts can be certified and the dispositions accepted. Although the principal stakeholders of a company are typically its shareholders tax authorities, banks, regulators, suppliers, customers and employees also have an interest in ensuring that the financial statements are accurate.

The Acts and what they say

The Sarbanes Oxley and the Public Company Accounting Oversight Board statements have had a tremendous impact on financial auditing of an organization. This is under the wake of accounting scandals as Enron and Worldcom. The result is that there has been an increased focus on internal control procedures, which aim to ensure the completeness, accuracy and validity of items in the accounts, and restricted access to financial systems. This emphasis on the internal control environment is now a mandatory part of the audit of SEC-listed companies.

How have we taken care of this

Thomas and Alex is aware of the pressing need of companies to confirm that the financial statements are free of material errors and omissions before the OAG has a look at the statements. Our financial auditing services are geared towards achieving this major objective. We are comfortable to work as an internal or external auditor for your company. We have expertise in,

• Substantive Analytical Procedures (comparing sets of financial information, and financial with non-financial information, to see if the numbers 'make sense' and that unexpected movements can be explained) as well as
• Substantive Tests of Detail (selecting a sample of items from the major account balances, and finding hard evidence e.g. bank statements, invoices, for those items)

How we get started

Before commencing on your projects, we understand your needs to ensure that the staff assigned to conduct the audit should collectively possess adequate professional proficiency for the tasks required.

The Team

At Thomas and Alex the audit is conducted by team that collectively has the knowledge and skills necessary for your audit. Our staff possesses the necessary skills to communicate clearly and effectively, both orally and in writing. In addition, our services are flexible and scalable so that there are no hindrances in meeting the deadline for report submission. Finally Thomas and Alex has the required knowledge and expertise to maintain independence so that opinions, conclusions, judgments, and recommendations will be impartial and will be viewed as impartial by knowledgeable third parties.

Special Emphasis

We place special emphasis on compiling reports regarding any important matters that come to our attention during performance of the audit and evaluate and review the audit evidence obtained, ensuring appropriate evidence was obtained for every material assertion.