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Audit Services

The Risk Assessment Suite of Auditing Standards
To further enhance audit quality, the AICPA Auditing Standards Board has approved a set of eight new Statements on Auditing Standards (SASs) - collectively referred to as the Risk Assessment Standards.  

Proposed Fair Value Option
The Financial Accounting Standards Board (FASB) has issued a proposed Statement of Financial Accounting Standards. This Exposure Draft is available for comment until April 10, 2006

Fraud Information for Audit Committees
The AICPA Antifraud Programs and Controls Task Force has issued a document that offers assistance to audit committees in addressing the risk of fraud arising from management override of internal control over financial reporting. More

American Institute of Certified Public Accountants (AICPA)

Public Company Accounting Oversight Board

AICPA's Employee Benefit Plan Quality Center

When you need someone you can trust to perform an audit  – look to Hood & Strong LLP. Our reputable professionals can provide you with insight on all of your financial accounting matters.

Since 1917, performing audits has been the cornerstone of our practice. Our audits have always done more than just verify the facts; we’ve also given our clients a blueprint for the future. We’re trained to review findings and identify opportunities for improvements, from waste reduction to payment cycle adjustments and more. Every audit complies with professional standards, and is geared toward uncovering your business’s strengths in order to achieve maximum efficiency.


Our Audit Approach

We focus our approach on you and your business. We meet with you to design an individualized audit plan based on your business operations, your controls and your timetable. We remain in constant communication with you throughout the audit process and throughout the year, so that we can respond to your needs and requirements as they change.

As part of the audit process, we evaluate and assess your risks including:

  • Assessing inherent risks at the financial record and account balance levels 
  • Evaluating your internal control structure and the subsequent assessment of your control risk
  • Assessing the effectiveness of your analytical procedures in controlling and detecting risk

After we have established a plan and assessed inherent risks, we use industry-specific audit programs to address critical risks specific to your company. When possible, we use technology to perform fewer manual procedures, improving audit efficiency and effectiveness.

 

 

 

 

 

 

 

 

 

 

 




 
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