Services
Financial audit
An independent examination of financial information, with close attention to the context in which it is prepared and used.
Financial statements are an important reference point for decisions about investment, financing and the management of a business. Their usefulness depends on how faithfully they reflect operations, how consistently accounting policies are applied and how well the underlying figures are supported. A financial audit brings an independent perspective to this information and to the matters that may affect how it is understood.
At FORTEXPERT, the engagement begins with an understanding of the company: its business model, significant operations, financial structure and the needs of the users of its reporting. This context helps define the scope, responsibilities and information required. An audit does not replace management's responsibility for financial reporting and does not provide a guarantee about the company's future performance.
The scope and conditions of each engagement are agreed individually, according to its purpose and the applicable reporting framework. Clarifying them before work begins helps teams organise documents, identify the relevant contacts and prepare explanations for significant transactions, so that questions can be addressed in context and supported by appropriate evidence.
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How we can help
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Understanding financial reporting
We consider how the company's activities are reflected in its financial statements and identify areas that require particular attention. Discussions cover accounting policies, estimates and significant transactions to determine where further explanation or supporting documentation may be required.
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Examining information and documentation
Procedures focus on information relevant to the engagement and on the risks identified. We consider the connection between reported figures, supporting records and explanations from the team, taking into account the nature of the business and the way transactions are recorded.
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Dialogue on significant matters
We communicate matters requiring clarification and discuss their implications for reporting. Questions about documentation are distinguished from questions about accounting treatment so that the responsible people can evaluate each matter on an informed basis.
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Conclusions within the agreed scope
The outcome is framed by the agreed objective and the information examined. We explain matters relevant to understanding the conclusion and, where appropriate, communicate observations about processes supporting the preparation of financial information.
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The FORTEXPERT approach
Planning includes a discussion of the purpose of the engagement, the period covered and the documentation available. We agree an efficient way of working with the finance team and the people able to explain the company's operations, linking information requests directly to the agreed scope.
During the engagement, we review the information received, request clarification and discuss observations in the context of the business. Verbal explanations may require supporting evidence, while individual documents may need additional context. Conclusions are developed from this examination rather than from an assumption that every aspect of the business falls within the audit scope.
At completion, we present the result in the agreed form and clarify the limitations of the work. Relevant observations are discussed with the appropriate people so that management understands which matters may require internal consideration. Any implementation support is addressed through a separate engagement where appropriate.
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Who this is relevant for
Companies preparing for an audit engagement that need to clarify scope, documentation requirements and collaboration with the finance team.
Organisations whose financial statements are used in discussions with shareholders, lenders or other stakeholders and require an independent examination.
Businesses with significant transactions or accounting estimates where economic context and supporting documentation need to be considered together.
A long-term partner