Financial Audits
Wegner strives to assist clients achieve transparency and credibility in financial reporting while looking for ways to
improve business processes to enhance efficiency and ensure compliance with laws and regulations. We staff all of our engagements with
professionals who are experts as to accounting, auditing, and the client's particular industry. In addition, the partners at Wegner welcome
and encourage you to contact them as needed with any comments or questions regarding each engagement.
We tailor our audit approach to each client. This approach includes meeting with each client to plan the engagement and understand your
needs and expectations. After agreeing on the timing of the audit to help minimize the disruption to the clients' work environment,
we will provide them with an itemized list of audit schedules and other documents to be prepared by clients' personnel. We also discuss
these items with clients to help ensure understanding and to minimize the work required by clients' staff. All of these efforts lend to an
efficient audit process and help meet reporting deadlines.
The audit team and the engagement partner for each audit engagement meet in "brainstorming" sessions to discuss the potential for a
material misstatement in the financial statements due to fraud before and during the information-gathering process. The audit team also
shares information on each client and its industry to better evaluate the client's internal controls and business operations during these sessions.
Our audit procedures are designed to be efficient and provide a basis for our audit opinion. As a result, we are able to provide our
clients with affordable high quality services. We discuss with each client all audit adjustments that we propose, as well as those that are
considered to be immaterial to the financial statements. Wegner uses the information shared during the brainstorming sessions and collected
throughout the audit process to identify areas for improvement in internal controls and other financial and operational matters to come
up with useful recommendations. If identified during the audit, these recommendations are included in the value-packed management letter issued with
the audit reports. We also discuss the results of the audit with clients and provide them with a draft of the auditor's report and management
letter prior to issuing the final documents. This approach enhances communication and minimizes misunderstanding.
Wegner's assurance department has low employee turnover and hence our clients enjoy having auditor continuity from year-to-year. Most of
our clients have the same audit team for many years. We also allow and often encourage for rotation of the audit partner and/or staff assigned
to the audit based on requests of our clients. Our goal is to make sure we meet your expectations before, during and after the audit
while maintaining "independence" to provide you with "unbiased" value-added services.
For more information, please contact one of the following:
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