“Inspection of the accounting records and procedures of a business, government unit, or other reporting entity by a trained accountant, for the purpose of verifying the accuracy and completeness of the records.” - yes, this is the definition you can find in the dictionary, and, yes, it sounds pretty serious, and, believe us, it is!

Auditing is necessary for internal and external purposes as well. Although federal law doesn’t require audits for private businesses, an audit for the financial statements may be required by banks or other lenders, shareholders and investors. A smaller business may have an outside CPA come in regularly to look over the accounting method, detect fraud or error, and give advice on the financial reporting. Businesses, just like individuals, may be audited by the IRS.

CWA’s professional expertise can fully benefit you with ongoing appraisal of the financial health of the business’s operations, risk management, reporting and control practices, and generally all the operations and systems in the company.