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Assurance and Accounting Services
Assurance and Accounting Services | Tax Services | Advisory Services
As the cornerstone of many of D&D's client relationships, our assurance practice is
committed to helping our clients succeed by measuring performance, managing risk and leveraging knowledge. We strive for our audits to be perceived as
value-added tools for assisting in the growth and development of our clients' businesses, rather than as a passive watchdog function. In accomplishing this
mission, we not only add reliability to historical financial data, but convert our comprehensive understanding of your organization into operational efficiencies, cost
reduction opportunities and improvements to internal controls. Our audit approach is risk-based, with a concentration on the business areas that are significant to
your financial statements and risk profile. The result is an efficient and effective audit, providing the independent verification you need to make informed decisions.
Our assurance framework consists of three distinct phases:
- Planning & Risk Assessment
The planning phase forms the foundation of our audit approach and includes the development of a comprehensive understanding of your business, including its
people, processes, control environment, and risk profile. Our findings and recommendations help you highlight any potential weaknesses or deficiencies in
your accounting system, internal controls and business model. During this phase, we define precise service commitments and plan for the most efficient utilization of
our resources in order to ensure that we meet and exceed your service expectations. In doing so, we address each financial area, assess the appropriate risk level, and establish the most effective
compliment of substantive tests necessary to form our opinion on the financial statements. We typically provide you with an information
request letter that details the schedules required for the most efficient execution of our procedures.
- Risk-Based Substantive Testing
This phase of our approach involves the execution of substantive testing at a level determined to mitigate risk in the identified financial
areas, and the accumulation of evidence necessary to form our opinion on the financial statements. Our professionals are equipped
with leading-edge software tools and research technology which provide comprehensive information on industry trends and the business
issues affecting your organization. While performing this testing, we are extremely conscious of tax ramifications and will obtain all
documentation necessary for the completion of tax returns. This eliminates duplication of efforts and results in the timely and
cost-effective delivery of services. Unlike that of most national and regional firms, the distinguishing factor of our assurance strategy is
the active involvement of our Partners and managers, providing you with direct access to the professionals most familiar with your organization.
In this final phase, we accumulate the collective results of our testing and prepare the financial statements as necessary. All
information obtained throughout the engagement is synthesized by the engagement team into value-added recommendations and
strategies for communication to management. Also during this phase, we evaluate and measure our performance against our firm's
mission and your expectations. We continuously strive to identify areas for improvement through our emphasis on engagement closing
meetings and client feedback forms, and actively search for better ways to serve you. |
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