Welfin

Audit Services

Committed to inspiring greater confidence and trust, we offer comprehensive understanding of the businesses and enhanced transparency through our audit services. We recognize that stakeholders require greater assurance and value from the audit services they avail and rely on our work and insights, as trusted professional advisors, who bring rigor and appropriate perspectives that help inform decision-making. We provide consistent audits to address the most complex issues, using a proven global audit methodology and deploying the latest, high-quality auditing tools and technologies.

Types of Audits:

FINANCIAL AUDITS: We address questions on accounting and reporting of financial transactions, including commitments, authorizations, receipt and disbursement of funds and sufficiency of controls over cash and cash-like assets.

COMPLIANCE AUDITS: We ensure the degree of a unit’s adherence to laws, regulations, policies, and procedures.

INFORMATION SYSTEM (IS) AUDITS address the internal control environment of automated information processing systems and how people use those systems. It evaluates systems input, output, processing control, backup and recovery plans, system security, and computer facility reviews.

Our ADMINISTRATIVE INTERNAL CONTROL REVIEWS focus on the departmental level activities that are components of the major business activities. Areas such as payroll and benefits, cash handling, inventory and equipment and their physical security, grants and contracts, and financial reporting are usually subject to review.

INVESTIGATIVE AUDITS are performed when appropriate. We focus on alleged civil or criminal violations of State or Federal laws or violations of policies and procedures that may result in prosecution or disciplinary action. Internal theft, white-collar crime, misuse of assets, are some of the reasons for investigative audits.

FOLLOW-UP AUDITS We evaluate corrective action that has been taken on the audit issues reported in the original report.  The purpose of a follow-up audit is to revisit a past audit’s recommendations and management’s action plan to determine if corrective actions were taken and are working, or if situations have changed to warrant different actions.