By definition, the “audit” refers to an inspection or evaluation conducted by an official party. There are many different types of audits; for instance, our clients in the home improvement field may conduct energy audits. Likewise, our IT clients may conduct audits of their clients’ websites to identify areas for improvement or upgrades. We at Whyte & Associates, Inc. are specialists in financial audits. Our specialization is defined partly by our status as an Enrolled Agent (EA), the highest designation awarded by the IRS. EAs have unlimited rights to represent you with the highest caliber of services, should you or your organization be audited or have other communication from the IRS that requires resolution.
While the word “audit” in the context of our office and industry tends to inspire dread, it merely refers to the greatest level of assurance that is provided by an accounting professional. By “assurance,” we are referring to assessing and validating that your financial statements are accurate and complete, and do not have questionable material misstatements.
There are various audit services that may be performed and are based on your needs or requirements. They do not all necessarily mean something to dread or worry about, or that something nefarious related to your “numbers” or processes is afoot. In our more than 65 years of representing all sorts of businesses and organizations, we know the specific needs and requirements of, say, a nonprofit versus a franchise organization. Franchisors alone may require that their franchisees undergo audits in the spirit of their contracts. This type of service demands niche knowledge and experience, which we have honed and refined through the decades by working with a variety of franchisees boasting a wide range of products and services, and contractual obligations.
We’ve included the following list of some of the other reasons why an audit may be on the horizon:
In summary, we are privileged to partner with you to minimize or eliminate the risk of unintentional errors or blind spots that can make your organization vulnerable to fraudulent activities. And, we are also here to “carry the load,” stress and anxiety associated with the audit, should you as an individual or business, nonprofit, and franchise entity face a government audit or franchisor audit.
It is our responsibility to resolve these circumstances promptly and in a way that is favorable for our diverse clients. By starting the process of partnering with us before you are staring down an audit, you can avoid considerable headaches and sleepless nights. Call us today at (909) 575-0080 to schedule your consultation. Our office is located in the Haven Gate Corporate Center in Rancho Cucamonga, CA.