Auditing is the principal activity of a Certified public Accountant. It is consists of independent examination of the accounting records and other evidence relating to a business to support the expression of an impartial expert opinion about the reliability of the financial statements. It is also the inspection of financial or accounting records and procedures of a business, government unit, or other reporting entity by a trained accountant for the purpose of verifying the accuracy and completeness of the records.
Auditing procedures can be conducted by a member of the organization called an internal audit which generally determines whether the company?s procedures are followed and if there is any illegal activity or financial fraud occurred; by an outsider called independent or external audit which determines the financial statement?s reflection of the status and operations of the company being audited. An audit done by a CPA determines the overall validity of financial statements. A tax audit determines whether the appropriate tax was paid.
To perform an audit of a business, we make a careful study of the company?s accounting system and gathers evidence both from within the business and from outside sources. This evidence will enable us to express our opinion as to the fairness and reliability of the financial statements. Our auditing staff will be responsible for evaluating the system of internal and external control to ensure that accounting reports are reliable, that the company?s resources are safeguarded against theft or wasteful use, and that company policies are followed consistently at all levels of the business.