Audit & Assurance
Audit & Assurance
At Verity CPAs, we put your needs first by offering tailored assurance services that provide clarity and confidence in your financial reporting. Our team stays ahead of evolving accounting standards and regulatory requirements, ensuring your financial information is accurate, reliable, and meaningful. Whether through audits, reviews, or specialized attest engagements, we help you navigate complexities, understand internal controls, and build trust with stakeholders.
Our Expertise
Nonprofit Audits – Compliance and financial audits for charities, foundations, and associations.
Private Company Audits – Financial statement audits for privately held businesses.
Employee Benefit Plan Audits – 103(a)(3)(c) ERISA audits for 401(k) and 403(b) plans.
Single Audits (OMB Uniform Guidance) – Compliance audits for organizations receiving federal funds.
Financial Statement Compilations – Preparation and presentation of financial statements without assurance.
Insightful Audits, Trusted Assurance
Our approach to audit and assurance services leverages the latest in technology; we use the latest in data analytics and AI, integrating these resources into the audit process to streamline procedures results in an efficient audit and timely results. In addition, our partners and directors are actively involved in audit and assurance services ensuring the highest quality and quick responsiveness.
At Verity CPAs, our audit methodology is designed to deliver comprehensive insights and assurance for your organization. Our approach encompasses the following high-level stages:
Pre-Planning Activities
Once engaged, we begin by gaining a thorough understanding of your organization. This involves meetings with management and the board, reviewing prior-year audit documentation, and discussions with the predecessor auditor to ensure a seamless transition.
Planning Activities
During the planning phase, we perform preliminary analytical procedures, industry benchmarking, and inquiries with management to identify unusual or significant trend variations. We assess risk, document our understanding of internal controls, and establish a mutually agreed-upon timeline for completing the audit and providing necessary items.
Fieldwork
Fieldwork involves detailed onsite or remote testing, examination of source documents, and analytical procedures. This phase is carefully scheduled to align with personnel availability. Throughout fieldwork, we maintain regular check-ins with executive management and the board to keep them updated on the audit’s progress.
Reporting and Wrap-Up
The final stage ensures the audit file is complete, quality control reviews are conducted, and any additional comments or feedback from the board or management are addressed. We present a final report on the financial statements and internal controls, providing your organization with valuable insights and assurance.
With Verity CPAs, you can trust that every step of the audit process is handled with precision, transparency, and professionalism, delivering the clarity you need to move forward confidently.