Our team also uses their extensive risk, assurance and process knowledge to add a unique take on consulting services.
Financial Statement and Audit Assistance
While accounting standards become more complex and with the burden of compliance increasing each year, organisations are finding the increased workload straining on their existing accounting staff.
Instead of devoting time adding value to your operations they are preparing statutory accounts, addressing accounting compliance issues and liaising with external auditors.
Forsyths provide corporate accounting and the preparation of timely and compliant statutory financial statements.
Our extensive experience as external auditors provides a unique perspective in providing accounting and financial statement support.
We know the audit approach inside out, so we can assist businesses to prepare workpapers, disclosures and position papers that specifically address areas of audit focus. This reduces the time burden on your staff dealing with external auditors and significantly reduces the risk of audit fee overruns.
This means your staff can focus on what they do best.
Specifically we can assist your business with:
- Preparing a project management plan to coordinate resources to ensure the financial statements are completed to meet deadlines and minimise the risk of material misstatements
- Preparing audit files to justify the figures and disclosures in the financial statements to head off at the pass your auditor’s to streamline the audit process
- Conducting quality reviews of financial statements to ensure disclosures are in line with accounting standards and to highlight to management specific areas where additional supporting evidence may be required to satisfy audit requirements
- Coordination of infrastructure and other revaluation processes to ensure they comply with accounting standards and are based upon complete and accurate information
- Preparation of position papers to support accounting estimates and adherence to accounting standards including position papers on impacts of new accounting standards, fair value of infrastructure and other assets etc.
Preparation of General Purpose or Special Purpose financial statements that are in accordance with accounting standards and your specific