Objective of our Services
The basic objective of our Firm is to exceed the expectations of our clients.
Additional objectives that we pursue include:
- Substantive observations and recommendations relating to accounting
and operating control policies and procedures
- Identification of opportunities for operational efficiencies and cost reduction opportunities
- Performance in an efficient and effective way to minimize disruption to the client's operations
- On-going advisory services to aid in the internal operations of our clients.
Caporicci & Larson performs its services within the framework of the Firm's quality control program that includes careful planning, use of computerized audit software, internal control evaluation and documentation software, and objective review procedures.
Audit Services The Firm's audit services have been designed to perform the audit of the client's financial records in a timely manner with minimal disruptions to office operations. We will conduct the necessary audit steps to perform:
- Planning of the engagement
- Evaluation of the existing internal controls
- Determination of degree of compliance with laws, regulations, third-party provisions, and the client's approved policies
- Validation of account balances
- Verification of reasonableness of management estimates
- Preparation or review of the financial statements
Caporicci & Larson's proprietary Audit Approach has been designed to meet the audit requirements of various organizations. The foundation of the Audit Approach is based on communication coupled with a strong knowledge of the organization's operations and detailed planning at the initial stages of the audit. Open communication between all parties - the Engagement Team, Client Management, and Client Staff - ensures the proper assignment of duties to experienced personnel. Consequently, disruptions are kept to a minimum.
The Audit Approach consists of four phases:
Initial Planning Meeting
Caporicci & Larson Partners and Managers will meet with the client to discuss the audit approach, identify specific needs of Management, and familiarize themselves with the organization's policies and practices.
Interim
The Engagement Team members will perform internal control reviews, test transactions, evaluate degree of compliance with third-party requirements, identify potential audit issues that need to be addressed, perform limited confirmation procedures, and develop a clear understanding between the Engagement Team and Management of the year-end audit responsibilities and assignments.
Year-end
The Engagement Team members will conduct validation procedures on general ledger account balances, complete confirmation procedures, perform analytical reviews, perform search for unrecorded liabilities, complete compliance work, prepare the necessary financial reports for the organization and its related entities, and wrap-up the field work.
Reporting
Financial statements, compliance requirements for all reporting entities, and related audit reports will be finalized along with Management Letter recommendations within the time frames required.
|
