An audit is the application of procedures that enable the auditor to "obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation."
Our clients usually do not ask for an audit on a voluntary basis. They are usually required to have an audit by their financial institution, a grantor, or some type of government agency or regulation. At RLH, we view this compliance service as an opportunity to help you examine your internal controls and processes. We will make recommendations on how you can achieve better segregation of duties and process efficiencies so that you can reduce your risk of fraud and errors and be more efficient in your daily work.
We perform the following types of audits:
Why Choose RLH
Commitment to Excellence - We devote considerable time and resources to train our team in the application of the most up-to-date audit standards and in the creative design of audit procedures which will result in an audit plan best suited to your organization. A requirement for membership in the American Institute of Certified Public Accountants (AICPA) is for the Firm to undergo a peer review of our auditing and accounting practice every three years. We have been a member of the AICPA since 1980 and have undergone numerous peer reviews. RLH has received unqualified reports, and our most recent report did not include a letter of comment - a status very few accounting firms are able to achieve. Our peer review results confirm the quality of our audit and accounting team and our commitment to excellence.
Involvement of experienced personnel - Our partners will be actively involved in the performance of your audit, from the early stages of planning through the delivery of the final product. Each aspect of the audit is reviewed by an individual possessing the appropriate level of expertise to ensure its accuracy.
Customized audit approach - We take pride in our ability to customize our audit programs for each of our clients based on the high level of information that we obtain through various risk assessment procedures. As a result of our risk analysis, we will focus our audit effort in the important, high risk areas and minimize our time in the low risk areas ensuring you of a cost effective and efficient audit.
Interaction with client personnel - We get to know you and your systems by interviewing individuals within all levels of your organization, from the governing body to the personnel performing the day-to-day operations. We also observe your procedures in practice. This provides us with the information necessary to assess the risks within your organization as well as the opportunities and challenges that you face every day.
Client self-awareness - Our inquiries will encourage you to dive deep and evaluate your controls and the assignment of tasks to those within your accounting department. It has been our experience that there is more involvement of the board of directors and others within upper management because of our questions and thought-provoking inquiries about their objectives and business strategies.
For more information about our audit services, contact our Assurance Team Leader or complete the form at the bottom of this page. We look forward to working with you!