Audit and Other Assurance Services
Reagan & Reagan is committed to delivering independent, effective and comprehensive assurance services. Business owners need professionals who understand their business, the industry risks, and accounting issues.
Our focus on quality helps ensure that our clients' financial statements meet the regulatory and business requirements under which they function. Financial statement related services are a large part of our business. We offer various levels of financial statement services to a multitude of companies across a broad spectrum of industries, including privately owned business and not-for-profit organizations.
Our assurance services include the following:
- Agreed upon procedures
Through our audit planning at Reagan & Reagan, we will gain an understanding of your business and its operations. As part of developing this understanding we will perform an evaluation of your company's internal control environment, which helps us identify the risks of misstatements in a company's financial statements. Our risk evaluation affects the nature of our audit procedures and the extent to which we will perform those procedures during the preliminary and final fieldwork stages.
We consider the evaluation of risk to be the most critical element of providing audit services. When risk is properly evaluated and the audit engagement appropriately performed in conjunction with our audit risk assessment, we can provide the highest quality audit services in the most efficient manner.
We believe that high-quality assurance services are essential to an organizations growth. Our audit teams are led by partners who are heavily involved in the engagements and our engagement teams are staffed by individuals with the appropriate level of skill and knowledge of our clients' businesses. Each has a high level of independent technical oversight.
We recognize the benefits of a planned, proactive approach. In that regard, we identify possible areas of risk that might require special attention. This advance planning also typically results in a more efficient audit process. In performing audit services we have access to a tremendous amount of information regarding all facets of your organization and its operations. With this knowledge, and our experience, we will be able to provide meaningful insights and recommendations for improving your organization's operations and increasing your profitability.
We tailor each engagement and create an audit plan based on the following specific objectives:
- Establish strategies for the audit—the best processes for collecting and verifying data.
- Assess controls over financial reporting within your business.
- Make sure that the risk of material misstatement is minimized.
- Develop reports of audit results for appropriate audiences, including the audit committee, board and management.
- Provide recommendations based on our experience that will add value to your business.
- Advise you of relevant accounting standards, and inform you of changes.
- Provide scheduling that gives your accounting staff the time to prepare needed documents and information.
- Meet deadlines for all deliverables.