AUDIT & ASSURANCE
We take pride in our Audit of financial statements and invest in audit software (cloud) and other technologies that enable us to undertake a smooth, effective and timely audit of Financial Statements. We are also proud to have obtained Satisfactory Audit Monitoring reviews from our regulator ICATT.
Our Audit Process is simple;
An enquiry is received from a potential client
A formal written proposal (including cost-budget and brief outline of Auditing procedures to be applied is submitted to the client within two days of enquiry and on review of the previous years Audited (or unaudited) Financial Statements and after evaluation of the prospective engagement
On acceptance, permission is sought from the client to contact the previous Auditor to obtain professional clearance (a mandatory step). A period of twenty-one days is allowed for response. In most instances responses are received well before twenty-one days.
If no previous Auditor and upon receipt of professional clearance (where applicable) we evaluate the undertaking and if deemed acceptable, a Letter of Engagement is issued to the client detailing the audit process, the firm and client obligations and agreed fee
Upon acceptance by the client an Audit Planning letter is issued and the Audit field-work commences
On completion, we engage the client in discussions with respect to our findings and discuss the draft Auditor's Report
A management letter is issued detailing recommendations, observations and general guidance pertaining to weaknesses (if any)
After approval of the Financial Statements by the Directors and execution of the Management Representations' letter, we issue our Auditor's Report.
WHAT TO KNOW!
Always! Always meet the Engagement Partner. Never engage an audit via an intermediary and always ensure that the Auditor is ICATT registered and authorised to conduct Audits of Financial Statements and to issue an Auditor's Report thereon.
Audit fees starts at TT$6,000 per month (VAT Inclusive). Pricing is dependent on the scope of the engagement, staffing requirement and other considerations.
We are proud of our Audit Quality having received Satisfactory Audit Monitoring reviews. We are meticulous in our Audits of Financial Statements and are sought after for our unblemished track record.