Preview

Auditing Introduction Letter

Satisfactory Essays
Open Document
Open Document
680 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Auditing Introduction Letter
Auditing Introduction Letter
Mahshid Kianipour
Instructors: Cecil B. Lucy
November 15,2010
University of Phoenix

Auditing Introduction Letter

From: Langroodi, CPA
To : Management of Apollo Shoes, Inc.

RE: Auditing and assurance services

Dear Mr. Jason, First, I would like to appreciate to giving me this opportunity to explain a couple points related to our firm and services, so then I’ll try to make them understandable and short as much as I can; because I know how valuable your time is.

Langroodi CPA has proud to being in business for more than 15 years and we always tried to build a close and comfortable relationship with our clients. We have the most educated and trained personnel and high quality audit tools. Our audit approach is successful because it concentrates on understanding the clients ' business and control issues, and combines diagnostic process, risk assessment, and audit testing procedures.

My role in providing assurance is to ensure that there is sufficient audit evidence, to check the control present in the IT environment of your firm, testing control procedures, planning audit procedures, and assisting other auditors and experts. I check if the tests of controls have been properly completed and if substantive procedures have been carried out properly.
At this time, I would like to explain some points regarding our services. First, I want to explain, what auditing means: “Auditing is the accumulation and evaluation of evidence about the information to determine and report on the degree of correspondence between the information and establish criteria”.

Auditing has a lot of benefit for every organization. I listed some of these benefits as follow: * Auditing can analyze the financial statements and make them understandable for users [including: Management, shareholder, investors, clients and …] * Auditing can identify the weakness in any organization. * Auditing can assess risks, quality and



References: From: The auditing profession book, Chapter 1, Page 4 From: The auditing profession book, Chapter 1, Page 8 http://www.webtrust.org/overview-of-trust-services/index.aspx

You May Also Find These Documents Helpful

  • Powerful Essays

    Auditing

    • 1697 Words
    • 7 Pages

    6. Which body has a mission ‘to develop, in the public interest, high-quality auditing and assurance standards and related guidance to enhance the relevance, reliability and timeliness of information provided to users of audit and assurance services’?…

    • 1697 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    The highlight of our services will cover auditing financial statements that include the income statement, balance sheets, statement of retained earnings, and the statement of cash flows. The financial audits will make sure that financial statements are presented according to General Accepted Accounting Principles (GAAP). Since investors, creditors, managers, and government agencies use these statements, it is very important for the auditor to ensure all financial statements conform to GAAP (Arens, Elder, & Beasley, 2006). The audit team will also examine and measure the operational performance by studying specific parts of the organization and evaluate the effectiveness and efficiency of operation activities on the financial statements.…

    • 1203 Words
    • 5 Pages
    Powerful Essays
  • Better Essays

    Cited: Messier, William F., Glover, Steven M., Prawitt, Douglas F. Auditing & Assurance Services: A…

    • 1525 Words
    • 7 Pages
    Better Essays
  • Satisfactory Essays

    audit Assurance services are broader in scope than either audit or attestation services. It is an independent professional service designed to improve the quality of information for the purpose of making better decisions. It evaluates the reliability, credibility, relevance, and timeliness of information. It assesses all the information and determines how accurate it all is. It provides independent and professional opinions that reduce the information risk. Assurance services may involve financial and non-financial services.…

    • 273 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    An Overview of Auditing

    • 17858 Words
    • 77 Pages

    2. Which body has a mission ‘to develop, in the public interest, high-quality auditing and assurance standards and related guidance to enhance the relevance, reliability and timeliness of information provided to users of audit and assurance services’?…

    • 17858 Words
    • 77 Pages
    Satisfactory Essays
  • Good Essays

    Assurance refers to the auditor’s satisfaction as to the reliability of an assertion being made by one party for use of another party.…

    • 537 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Auditing Chapter 2

    • 3093 Words
    • 13 Pages

    1. Audit and assurance services Assurance services are independent professional services that improve the quality of information for decision makers. Assurance services include attestation services, which are any services in which the CPA firm issues a report that expresses a conclusion about the reliability of an assertion that is the responsibility of another party. The four categories of attestation services are audits of historical financial statements, attestation on the effectiveness of internal control over financial reporting, reviews of historical financial statements, and other attestation services.…

    • 3093 Words
    • 13 Pages
    Powerful Essays
  • Powerful Essays

    Audit Planning Memo

    • 2070 Words
    • 9 Pages

    AuditPro Management & Co., CPAs has been reappointed by the Board of Directors as the external auditor for Ayala Land, Inc. for the year period commencing 2011-12. This memorandum outlines how we will move toward the audit of the company in the year of our reappointment, and reflects our statutory duties and risk based approach.…

    • 2070 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Assurance is very much like an audit except that it usually used to verify a certain financial issue project. As with all attestation functions, independence is the backbone of the assurance procedure. The difference is that assurance reports are not necessarily a historical set of facts. They could be used to project or forecast the effects of certain transactions. Assurance services may include risk assessment, reliability of systems, business performance measurement, or compliance with policies. It is obviously a specific examination and a specific report.…

    • 599 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Strategic Audit Plan

    • 3304 Words
    • 14 Pages

    In addition, internal audit provides assurance to management on systems that they are responsible for and assist management in making improvements to these systems.…

    • 3304 Words
    • 14 Pages
    Powerful Essays
  • Powerful Essays

    The Role of Audit

    • 1292 Words
    • 6 Pages

    An audit is ‘an independent examination of, and the subsequent expression of opinion on, the financial statements of an organization’ (Hussey, 1999, p. 33). The audit can be viewed as an integral part of corporate financial reporting, where the assurance it provides stems from the trust placed in the judgement of the auditor. The audit is designed to demonstrate ‘the completeness, accuracy and validity of transactions which, when aggregated, make up the financial statements’ (Power, 1997, p. 24).…

    • 1292 Words
    • 6 Pages
    Powerful Essays
  • Better Essays

    2. Gain a sufficient understanding of the organization and the background of the company. Gain the knowledge of the company’s internal control, evaluate any risk regarding the financial statement misstatement whether due to fraud or error, and make a note for future auditors if there could be recurring problems and provide an analysis of the situation so future audits can recheck the issues.…

    • 910 Words
    • 4 Pages
    Better Essays
  • Good Essays

    The purpose of an audit is to provide financial statement users with an opinion by the auditor on whether the financial statements are presented fairly, in all material respects, in accordance with the applicable financial reporting framework. An audit also enhances the degree of confidence of intended users in the financial statements. Financial audits add credibility to the implied assertion by the management that the financial statements fairly represent the entity’s position and performance to its stakeholders like shareholders, tax authorities, banks, regulators, suppliers, customers, and employees.…

    • 483 Words
    • 2 Pages
    Good Essays
  • Good Essays

    week 5 auditing paper

    • 1016 Words
    • 5 Pages

    Internal and external users of financial information require assurance that reports filed are accurate and transparent. Increasingly, both investors and legislators are requiring accountability from executives and financial officers. For this reason, auditing and assurance services must sign-off or attest to the credibility and reliability of written assertions. Creditors rely on the accuracy of financial reports when calculating the risk and interest rate of loans. Investors and employees need reliable information when allocating their precious resources. Governmental agencies require transparency and compliance to insure the public is not being victimized by fraud. Do increased auditing requirements guarantee that there will never be fraud? No! Increased auditing does not promise to prevent fraud, but it does assure us that due diligence is exercised to a reasonable degree in the examination of documents and compliance. Moreover, the benefits of assurance that come from auditing inspire businesses and the economy to thrive. Consequently, the attestation portions of financial reports are a requirement for the Securities and Exchange Commission (SEC) as well. Likewise, the Internal Revenue Service (IRS) itself must consider and factor in these variables when conducting their audits, since depreciation for tax purposes is not usually identical to the depreciation used in financial reporting. Auditing is a process that takes place when an auditor gathers unprejudiced evidence regarding the reliability and integrity of financial statements, compliance, and operational information provided by an organization. Audits can be performed by different people. Independent auditors, such as CPAs, and governmental auditors, or employees working for federal, state, or local government entities. There are different types of auditors who are not directly employed by the organization being audited. Internal auditors, however, are employed by the organization and go on to perform…

    • 1016 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Internal Audit Efficiency

    • 313 Words
    • 2 Pages

    The lending credibility theory suggests that the primary function of the audit is to add credibility to the financial statements. In this view the service that the auditors are selling to the clients is credibility. Audited financial statements are seen to have elements that increase the financial statement users’ confidence in the figures presented by the management (in the financial statement). The users’ are perceived to gain benefits from the increased credibility, these benefits are typically considered to be that the quality of investment decisions improve when they are based on reliable information.…

    • 313 Words
    • 2 Pages
    Good Essays

Related Topics