Phase 1
Inquiry and acceptance
You send year-end date, framework, entity map, and prior auditor details. We run independence checks, assess capacity, and either decline politely or issue a draft engagement letter with fee and timetable.
Process
The audit calendar, phase by phase
This page maps how a statutory financial statement audit runs from first inquiry to signed opinion. Use it to reserve plant access, bank authorizations, and board dates before fieldwork begins.
Phase 2
Planning and interim
Materiality, risk assessment, and walkthroughs of revenue, purchases, and payroll. Interim substantive testing where balances allow. Confirmation control letters prepared for banks and major customers.
Phase 3
Year-end fieldwork
Inventory observation, cut-off testing, estimate evaluation, related-party procedures, and subsequent events. Partners attend material inventory counts and the first closing discussion of adjustments.
Phase 4
Reporting and signature
Draft auditor’s report and management letter circulate to your finance lead. After clearance of open items, the partner signs the opinion for inclusion in board packs and filings.
Your responsibilities
What finance teams prepare
- Draft statements and trial balance on the agreed date
- Inventory count instructions and freeze windows
- Signed confirmation authorizations
- Related-party schedule and board minutes
- Access to general ledger detail for material accounts
Our responsibilities
What the cabinet delivers
- Independence confirmation and engagement letter
- Documented risk assessment and audit plan
- Fieldwork consistent with the letter’s scope
- Clear list of proposed adjustments
- Signed opinion and management letter
Align your board date with fieldwork
Request an engagement letter with your preferred signature month. We will work backward to inventory observation and interim weeks.