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Copetti & Co. audit practice helps make sense of the new and increasingly complex risks existing in today’s business world and how these risks can manifest themselves in an organization’s financial reporting. Our detail analysis provides an assurance that your financial statements are presented fairly, in all material respects, and/or give a true and fair view in accordance with the financial reporting framework, giving confidence to the intended user.
At Copetti & Co we bring a deep knowledge of financial reporting standards and regulatory requirements, and an understanding of complex business systems, processes, and controls.
Financial audits dig deep into a company's financial situation, probing accounting records, internal controls policies, cash holdings and other sensitive financial areas. Publicly-traded corporations are subject to external financial audits on a regular basis, and even privately owned small businesses can be subjected to an external financial audit.
A financial audit is an independent, objective evaluation of an organization's financial reports and financial reporting processes. The primary purpose for financial audits is to give regulators, investors, directors, and managers reasonable assurance that financial statements are accurate and complete.
Financial audits provide reasonable assurance, but not absolute guarantees. Through a variety of different audit procedures such as interviews, observation, and test work, financial auditors can determine if controls and processes needed to produce accurate financial statements are in place. If the controls and processes are in place, then they can conclude that the financial statements are accurate and reasonable, but they still can't guarantee that there were no human errors or miscommunications that may lead to a mistake.
There are many different groups of stakeholders that want to make sure the financial statements they see are accurate and complete. Regulators want to make sure organizations comply with applicable laws and present their financial health accurately for tax reasons. Investors select investments based on financial health, so their investments are only as good as the information they have. Managers and directors want to be assured that there are controls in place to stop assets from being misused or lost.