Audit &
Assurance Services
Regulations
vary a great deal around the world.
However, there is a clear trend toward requiring greater transparency in
financial reporting and more accountability to investors coming from European
Union's Company Law Directives, the Sarbanes-Oxley Act in the U. S., and
comparable initiatives in other jurisdictions.
The
internal audit function must provide assurance to stakeholders that internal
controls and business processes are effective and operating as planned. Accordingly, an internal audit serves as a
powerful tool, helping to identify voids, shortcomings and the inherent risk
potential in policies, processes and information technology.
CEOs
and CFOs of listed companies are being held more accountable for the integrity
of their financial statements and the effectiveness of internal controls. Directors and audit committees are taking on
greater responsibility for overseeing management and for the relationship with
the external auditor. This information
is important to investors because good internal control over financial
reporting is one of the most effective deterrents to fraud and a key factor in
preventing financial misstatements.
Rossitto
& Associates follows the guidelines of risk-based auditing and assesses the
level and effectiveness of a client's internal controls to determine level of
analysis that is necessary. Our
professionals explore and test internal controls and reporting mechanisms so
clients can evaluate the efficiency of their operational tracking procedures.
Our
internal audit services include:
- Full
outsourcing of internal audit
- Co-sourcing
with existing internal audit function
- Information
technology auditing
- Process
mapping and procedure reviews
- Operational
audits
- Quality
assurance reviews
- Internal
controls documentation and testing
Our
experts are also equipped to handle specialized projects including fraud
investigation, restructuring, and operating of an internal audit department.
In
addition, Rossitto & Associates is part of a national peer review and has
received clean opinions from the AICPA in all cases.
