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
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.