The basic structure our audit approach, constitute the key elements:

• maximum utilisation of the accounting skills of your staff in the preparation of year end schedules and reconciliations
• the recognition of the unique features of your business
• a focus on specific identified risk areas and key management and internal controls
• a thorough understanding of your operations
• assignment of high quality audit staff

A “zero-based” audit plan will identify the main components of your financial statements will be prepare to seek the most efficient and effective ways of auditing these components. This approach ensures the most appropriate level of audit fees for your organisation. We are very conscious of the importance of controlling our audit costs and we invest heavily in identifying and adopting the most efficient audit methods and procedures, including the utilisation of computerised audit files and working papers.

Our initial audit approach will be one of a wholly substantive audit, whereby year-end account balances will be subjected to detailed testing. Following that, we would look to assessing the individual business cycles within the business so as to be able to adopt a control reliance approach and thus reduce the extent of our substantive year-end audit procedures.