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Financial Audit Services

Friday Systems offers a tailored financial audit approach with a strong emphasis on early planning and a full understanding of how your organization functions. This enables us to identify key audit components and tailor our procedures to the unique aspects of your operation. The benefit to you is an effective, cost efficient, independent audit, performed in a timely manner by experienced professionals.

Our business and financial auditing services include the following specialties:

• Financial Performance Analysis
• Internal Control Reviews
• Financial Statement Preparation
• Internal Audit Procedures (Clean Audits)
• Review and Compilation
• Ratio Analysis
• Grant Closeout and Audit Resolution

Risk assessment, communications, and the use of effective tools are at the core of our auditing services. Our risk assessment process at the account-balance or class-of-transactions level consists of:

• An assessment of inherent risk (i.e., the susceptibility of an assertion relating to an account balance or class of transactions to material misstatement, assuming there are no related controls).
• An evaluation of the design effectiveness of internal controls over financial reporting and our assessment of control risk (i.e., the risk that a material misstatement could occur in an assertion and not be prevented or detected in a timely basis by the company’s internal controls).

Friday Systems converses regularly with your audit committee, CFO, controller and accounting staff during the audit process. From preliminary audit planning through delivery of reports and communication of internal control related materials, we keep you informed of our progress and findings.

Friday Systems is so meticulous that we have developed customized control review techniques, forms and other tools to use on our audits. Additionally, we utilize industry-specific audit programs that your engagement team has tailored to address critical risks specific to your company.  To simplify routine aspects of audit work, we also employ field audit software programs.