An audit can result in findings such a significant deficiencies or material weaknesses.  These findings can be the result of procedures not performed or poorly performed at year end (e.g. cut off procedures) or lack of procedures during the year (e.g. unperformed or untimely performed account reconciliations). 

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Organizations who receive Federal funds can also receive Single Audit findings from the management of their grants. Findings can result in significant audit costs.  Entities with findings can be considered "high risk" and require more programs to be audited.  Also, audits with significant findings are required to be audited the following year.

 

Our process can alleviate financial findings through proper preparation. We advise our clients on the properly close out of the financial records with the completion of our Close Out and Financial Reporting Check List.  

 

We also work with our clients to alleviate Single Audit findings.  We perform walkthrough procedures to understand the processes in place surrounding the compliance requirement(s) in question.  We then determine which components are missing and develop processes to achieve the desired result.  Our services also include monitoring procedures to ensure the processes put in place continue to operate as intended.