Herbein’s Audit Approach
Herbein + Company, Inc. examines your accounting and auditing requirements, by looking at your needs, and your budget with the goal of adding value and providing timely results. We’ll respond to your immediate and long range needs while seeking to identify opportunities.
We offer a full range of accounting and auditing services including:
- Audit, Review and Compilation
- Audit – providing the highest level of assurance that your financial statements materially represent a company’s financial position and operational results
- Review – utilizing analytical procedures and limited assurance that the company financial statements do not require material modifications
- Compilation – financial statement that presents company provided information and representations
Our audit approach at Herbein + Company, Inc. is always tailored to your needs. Every engagement is unique, and we will work with you every step of the way.
Audit Phases
Phase 1 – Preliminary Meeting / Evaluation of Controls
- Audit planning meetings with management
- Review prior auditor workpapers
- Solicit management feedback
- Interim work
- Fraud risk discussions
- Understanding of internal control system
- Review of audit issues
- Review of new pronouncements affecting the audit and financial statements
- Develop audit plan and agree upon communication process
Value to You
- Allows us to gain a clear understanding of your Company
- Allows us to resolve issues before they become problems
- Provides for efficiency and minimizes staff disruption
Phase 2 – Fieldwork
- Preparation of audit confirmations and correspondence
- Substantive testing
- Analytical procedures
Value to You
- Opportunity for us to gain perspective on your operations
- Provides foundation upon which we can make recommendations
Phase 3 – Preparation of Financial Statements/ Meetings / Regulatory Filings
- Preparation of audited financial statements
- Report to management
- Report to Board Members
- Management letter
- Closing meeting
Value to You
- Opportunity for us to gain perspective on your operations
- Provides foundation upon which we can make recommendations