THE AUDIT ENGAGEMENT Standards
Audit Preparation
Fieldwork
Our audit will be conducted in accordance with auditing standards generally accepted in the United States of America .
Our audit will include tests of your accounting records and any other necessary procedures to enable us to express an opinion on your financial statements in conformity with accounting principles generally accepted in the United States of America .
In preparing for an audit , we follow a multi-step process :
Well before the audit fieldwork begins , our auditors will meet with your Board and staff to familiarize themselves with your organization , internal control structure , and accounting policies and procedures , as well as to learn more about your programs and revenue sources . At this time the auditors will also address any specific concerns or issues you might have .
We then prepare a comprehensive list of schedules and confirmations you will need to assemble so that we may verify account balances , vouch transactions , and perform other tests and analyses of the accounting records . We will provide examples of formatted schedules and confirmations to help you prepare these materials .
Jacobson Jarvis believes the most efficient way to conduct an audit is for the auditor to remain on-site , working closely with your staff until all fieldwork is completed . In this way both client and auditor questions are answered quickly , documents are located , and schedules are analyzed in such a way as to minimize any disruptions to your staff and operations . This also gives the auditors an opportunity to review your operations and make suggestions to increase efficiency . The auditor is available to advise your staff on a variety of issues .
Working with the Staff of PCC Farmland Trust
We will rely upon your staff to document and assess internal controls , prepare schedules and confirmations , pull invoices , provide support , and answer ( to the best of their ability ) a variety of situational and general questions . However , this is only the initial phase of our approach to auditing . We are very aware that great differences exist from organization to organization , whether
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