Our cost-effective audit approach
In the audit profession, there are three types of auditors: (1) check-the-box auditors, (2) academic auditors, and (3) pragmatic auditors. We choose to be pragmatic because it leads to cost-effective audits that satisfy both professional auditing standards and clients' expectations for value-added service. We teach our junior auditors a simple six-step audit process, and as they mature in the profession, we teach them how to think through a risk-based approach to auditing that provides both reasonable assurance to stakeholders and the material correctness of client deliverables. In addition, we equip all our auditors with the latest technology to provide both a high touch experience for our clients and a high tech production of audit evidence that informs value-added audit recommendations and feedback.
evolutionary auditor training for Texas School District Auditors
Junior auditors
Auditing is a simple six-step process
Step 1
The engagement letter.
Step 2
The PBC List.
Step 3
Confirmations, physical counts and observations, online banking, and attorney letters.
Step 4
Drafting financial statements
Step 5
Substantive testing of account balances and disclosures and proposing AJEs
Step 6
Obtaining a signed management representation letter and finalizing deliverables.
senior auditors
Auditing is an informed and ongoing risk assessment process that focuses auditing resources on things that matter to stakeholders
Phase 1
The audit team plans the audit by assessing inherent risks, control risks, and fraud risks of material misstatements and then decides on an audit strategy and program of testing to mitigate those risks to reasonable levels.
Phase 2
The audit team tests internal controls if required or desirable to determine the efficacy of those controls in the context of our risk assessment.
Phase 3
The audit team conducts substantive testing of material account balances and financial statement presentations and disclosures to determine their material correctness and completeness.
Phase 4
The audit team finalizes the audit and prepares client deliverables based on the audit evidence collected and documented in our working paper files. Quality control and peer reviewers provide feedback to continuously improve our audit process.
Texas School District Auditors, Texas Government Auditors, Accounting Firm
Hankins Eastup Deaton Tonn Seay & Scarborough, LLC
Certified Public Accountants
Houston | Austin | Denton
Copyright © 2023 Hankins Eastup Deaton Tonn Seay & Scarborough, LLC - All Rights Reserved.
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