Approach

We have formulated an audit approach and methodology tailored to our clients' needs. This approach focuses on...

...activities needed to provide an audit opinion on the financial statements and is designed to consider relevant aspects of our clients' businesses, enhance our ability to provide them greater value, and remain their trusted business advisors.

Key elements of our audit approach:

Mutual understanding of objects. We obtain a thorough understanding of what our clients expect from us, and we agree on the engagement of deliverables at the outset. We monitor our progress towards meeting our clients' expectations through an audit scorecard, and we regularly communicate the progress of the audit to our clients.

Audit concentration on business risks. We perform an assessment of our clients' key business risks and determine their efforts to manage those risks. In doing this, we evaluate the internal and external factors that affect their businesses, and we customize our audit procedures to emphasize the significant areas where our clients are deemed vulnerable.

Building and sharing knowledge. Our audit approach emphasizes understanding our clients' business and industry. As we develop our knowledge of their businesses and operating environments, we improve the effectiveness and efficiency of our audits, and we increase our ability to provide our clients with value-enhancing ideas.

A team approach to client service. We develop engagement teams with a common purpose, shared performance goals, and an awareness that the success of one team member affects the success of the others. Members with experience use their personal knowledge to enhance the team's performance. In auditing key areas where business understanding is of particular importance, direct participation of one of our experienced audit executives in such areas is required.

Technology-based analytic tools and techniques. We equip all our staff with computers and software that allow the efficient organization of the audit, continuous sharing of information and ideas by the team, easy access to support and guidance, and effective use of a range of sophisticated tools to capture data and apply relevant analytical audit techniques.