Audit & Attest
Be Confident in Your Decisions
Expert Auditors for Your Needs
At Mowery & Schoenfeld, we know that you need access to timely, relevant, and accurate information to make the best decisions for your business. Our assurance professionals have experience performing audit and attestation services for businesses and offering an objective assessment of financial records, business transactions, accounting systems, and internal controls to companies in a variety of industries.
Auditing and Attestation Services
Oftentimes, our clients seek our attestation services because a company stakeholder is seeking assurance regarding the financial data of the company. We recognize that attestation engagements have earned the reputation of being disruptive, costly, and time consuming, draining company resources and hindering performance. The promise that our assurance professionals make to you and your company is this: no matter which level of assurance is right for you, we will structure the engagement to be streamlined and efficient, minimizing the burden on your resources and the disruption to your business.
Audits offer the most comprehensive, highest level of assurance and are often required by lenders, investors, and sureties. Why should an audit stop at proving compliance? Our audit procedures allow us to gain a deep understanding of your company’s finances, processes, and risks that we can use to provide insights for management to improve internal controls and help manage other risk areas.
Other attestation engagements provide a lower level of assurance than an audit, and are suitable for clients whose reporting needs do not require a full financial statement audit. Reviews offer limited assurance that the financial statements are not materially misstated. Compilations offer no assurance, but serve the purpose of assisting management in presenting data in the form of financial statements.
What to Expect from Our Assurance Professionals
Our approach to audit and attestation engagements is streamlined and efficient, and eases the burden these engagements can bring. The end result is a smooth, cost-effective engagement with minimal disruption to your business operations. During an audit or review, we will adhere to the following process:
- Planning and Interim Procedures
By utilizing the planning and interim stage, we ensure maximum efficiency during the rest of the engagement. During this phase, we work with you to establish a detailed timeline; we provide a comprehensive list of information needed for the audit and we perform interim audit procedures. This could include substantive and analytical testing, if applicable. In addition, we use this time to gain an understanding of your business and how you fit into your industry.
We perform our fieldwork as efficiently as possible to minimize disruption to your company. We attempt to wrap up all fieldwork in fewer than two weeks, schedule permitting.
- Preparation and Review
Our associates and senior associates prepare the audited or reviewed financial statements and our experienced managers then sign off on them. An audit partner undertakes a final technical review before we submit the financial statements to you in draft form for approval.
- Presentation to Management
Upon your approval, we finalize the drafted financial statements. We meet with you to present the final audited or reviewed financial statements and address any questions or concerns you may have. During this stage, we also bring up any opportunities for improvement that we identified during the review of your internal control processes and accounting systems.