Consulting
Written technical advice is the best evidence that you can obtain on your audit file. It is reassuring that no matter the size of your practice, you too can also benefit from an independent technical department offering you best advice.
At times an auditor just wants to have a chat about an ethical or independence dilemma. At other instances, an auditor may wish to obtain a second opinion about a technical issue, just to double-check. Perhaps a phone call or a small meeting can do in these instances.
In other circumstances, the complexities of an event, may lead the auditor to request a more formal advise, supported and backed up by technical justifications. Hence a more formal report is presented outlining the facts, issues arising and recommendations on the way forward. Typical examples, when consultation takes place on difficult on contentious issues relates to :-
- Audit report wording
- Independence and ethics
- Fair value measurement and disclosures
- Corporate social responsibility reporting
- Financial statements presentation and disclosures
- Transparency reports
- Ethical dilemmas
- Anti-money laundering considerations
These dilemmas requires independent expert advice, technical competence and foresight. Make the best decisions to move your business forward with confidence. Contact us here for advice by providing all relevant facts for us to be able to provide informed advice.
We can confirm our technical competence, our independence, that we are free of conflict of interest, and that we will carry out the task with a high standard of objectivity.
COMPASS believes in working in partnership with auditors by offering pragmatic solutions to help provide the right solutions to their particular size. Identifying these different needs and understanding those particular requirements is a critical part of offering advice and providing continual support and assistance.
A consultative environment improves the partner or staff’s learning and development process and adds strength to the firm’s collective knowledge base, quality control system, and professional capabilities.
Looking forward to hear from you.