Audits

//Audits
Audits2018-10-24T11:15:24+00:00
  1. Your company is growing and you need to obtain additional financing.
  2. Your company’s internal accountants handle your accounting matters, and you want independent assurance as to the accuracy of the financial statements.
  3. You’re selling your business and the buyer wants verification of the company’s financial statements.

All of the above represent instances where an audit may be required. Technically speaking, the primary reason an audit is performed is to provide reasonable assurance that your financial statements, prepared by management, are fairly presented in conformity with generally accepted accounting principles and do not contain any material errors or misstatements. That’s a good definition of what an audit is. But how will an audit benefit you?

Keep in mind that financial statements are a prime source of information for management, stockholders, investors, government agencies, creditors, and lenders. Before these agencies or individuals will commit their resources to your organization, most will request that your financial statements be audited by independent accountants in order to ensure that those financial statements meet the criteria expressed above. That’s where Pritchard, Bieler, Gruver & Willison, P.C. (PBGW) can help.

PBGW’s audit department will audit your financial statements in order to express an opinion, as independent CPAs, attesting to the fairness of those statements. During the audit we gain an understanding of your financial and operating systems by testing records, confirming data—internally and externally, and analyzing accounting and management controls. Throughout the audit process, we may also be able to offer suggestions to help your organization improve internal controls as well as operational efficiency.

Many companies, when faced with the need for an audit, fear that the audit process will disrupt the work of the company’s internal accounting personnel. PBGW’s auditors work with your accounting department, not against it. We work closely with your staff to ensure the most efficient use of time and resources available for the engagement. In addition, the insight we gain into the company’s operations throughout the audit will enable us to provide recommendations to improve internal operations, for example, internal controls and accounting procedures.

Pritchard, Bieler, Gruver & Willison’s audit department consists of a group of individuals highly skilled in performing audit services for a variety of industries. Industries in which we have extensive expertise include the not-for-profit sector, manufacturing, and construction. In addition, we perform audits for a number of local governments, municipalities, and school districts. We are also capable of providing audits under the Single Audit Act of 1984 and OMB Circular A-133.

Our auditors possess all of the traits inherent to an exceptional auditor—an analytical mind, the ability to “troubleshoot,” a degree of healthy skepticism, professional judgment, and a good understanding of business. They are also personable, friendly, and outgoing, which aids them in relating to your employees.

For more information on for-profit auditing, please contact Paul Young at 215-997-7266.