Process
From scoping call to signed report
Statutory audits and related engagements follow a predictable rhythm. This page shows when we ask for evidence, when draft findings appear, and what you prepare at each stage.
-
1
Scoping conversation
We confirm entities, year-end, reporting framework, inventory sites, and relying parties. You share a trial balance excerpt or prior statements if available. We outline whether audit, review, or agreed-upon procedures fit.
-
2
Engagement letter and fee
The letter sets materiality approach, timeline, access needs, and report form. A planning deposit is invoiced on signature. Fee ranges are discussed before you commit — see fee guidance.
-
3
Planning and risk assessment
We walk key cycles, identify significant accounts, and set sampling plans. You receive a request list for reconciliations, contracts, and count logistics.
-
4
Fieldwork
On-site or hybrid testing of selected balances, inventory observation where required, and follow-up on exceptions. Open items are tracked in a shared clearance list.
-
5
Clearance and reporting
Draft findings are discussed with finance. We issue the auditor’s report or review report and a ranked management letter. Final invoices follow report issuance.
What you prepare before week one
- Locked trial balance and financial statement mapping
- Bank reconciliations, AR/AP aging, inventory count sheets
- Fixed-asset register and depreciation schedule
- Related-party listing and significant contracts
- Prior-year adjustments and opening-balance bridges for first-year audits
Our journal article on preparing the trial balance expands each item.