Our audit approach starts with understanding your organisation and the financial reporting risks it faces.
Overview
Our audit approach starts with understanding your organisation and the financial reporting risks it faces. We use that understanding to plan the work, direct our attention to significant matters and evaluate the evidence supporting our conclusions.
We consider your operations, financial reporting processes, governance and internal controls, together with relevant developments in the business environment. This helps us identify where material misstatements could arise.
We determine materiality, assess the risks of material misstatement and design the audit response. We discuss the planned scope and timing with the appropriate people in your organisation, while retaining responsibility for our independent audit judgements.
Our procedures respond to the assessed risks and the circumstances of the engagement. They may include testing controls, examining transactions and balances, obtaining confirmations, applying analytical procedures and evaluating significant estimates and disclosures.
We assess the reliability of the information used in our work and consider evidence that supports or challenges management's explanations. Where the evidence indicates that further work is needed, we adapt our procedures.
Complex matters may require specialist skills. Where appropriate, we involve professionals with relevant expertise and evaluate how their work contributes to the audit evidence and our conclusions.
Direction, supervision and review support the work of the engagement team. Significant accounting and auditing matters are considered at the appropriate level, with consultation and engagement quality review where required.
We communicate significant findings and relevant control deficiencies to management and those charged with governance, as appropriate. We evaluate the financial statements and the evidence obtained before forming our opinion and issuing the audit report.
A well-managed audit depends on timely information and open discussion. We establish communication arrangements early and raise significant matters as they emerge, while maintaining the objectivity required of an independent auditor.
Explore
Reliable financial reporting matters to shareholders, lenders, boards and other users of financial statements.
Organisations may need independent reporting beyond their annual financial statements.
Technology and data analytics can help us understand financial information, identify areas requiring attention and perform audit procedures more effectively.
Audit quality is fundamental to public trust and to our professional reputation.
Our System of Quality Management, or SOQM, supports audits and reviews of financial statements and other assurance and related services engagements.
Leadership sets expectations for quality and establishes accountability for meeting them.
Inflo’s complete digital audit platform integrates advanced data analytics, client collaboration, and quality management products, all supported by a comprehensive audit methodology.
Get in touch
Tell us about your business and what you need, and we will help you shape a clear proposal. Our team will be in touch to take it from there.
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