HFA performs audits of financial statements for clients in multiple industries. Oftentimes, we are engaged to perform the audit to help our client comply with the needs of third parties as spelled out in loan agreements, bonding requirements, and/or other regulations.
In other cases, we perform audits to help clients develop a track record of reliable financial information for potential investors, financing for expansion or potential merger and acquisition activity. In other situations, we conduct audits as part of sound business practices for use by owners and management.
OUR AUDIT APPROACH
Prior to performing detailed procedures, we spend considerable effort understanding and evaluating the overall environment in which your organization operates, as well as the internal control structure. In making an overall assessment, we consider such factors as the historical accuracy of internal financial reporting, industry trends, management turnover, the soundness of your financial condition, the emphasis placed by management on a positive control environment, and the overall design of the accounting system. We combine our analysis of your operations with our expertise to provide services tailored to express a fair opinion of your financial condition and operations, as well as assist you in meeting other needs.
Our approach to performing audits is focused on the areas of greatest financial reporting risks your business faces. We work with our clients to identify these risks, and perform a high quality detailed review of financial operations. To do that, we emphasize:
- Close coordination and control by our client service team;
- A detailed understanding of your organization;
- Frequent communication with your management group;
- Use of computer assisted audit techniques.
Our approach stresses a high level of partner involvement. We believe that this increased involvement, by our more experienced people, leads to a superior level of audit quality and more meaningful, impactful recommendations to help you improve your controls and your business.