Audit Services

Financial Statement Audits

You consistently spend your time focused on improving performance and increasing the bottom line at your organization—and you shouldn’t expect anything less from your accounting partner.

Our Approach

A Unique Approach to Avoid Operational Disruptions

We provide experienced personnel and deploy audit managers on-site for the majority of the audit to ensure a timely and effective engagement. In fact, our policy of using managers and partners to lead our engagement teams is a major factor in our clients’ satisfaction with our financial statement audits.

Banks, suppliers and potential buyers may also require audited financial statements as proof that your business is financially sound.

A financial statement audit from Armanino includes many of the procedures completed during a review, but greatly increases the level of work performed to test the existence, completeness and valuation of recorded financial statement balances.

Our experts will work closely with your team throughout the financial statement analysis. During the audit engagement, we will:

  • Document significant processes and evaluate/test the internal controls over such processes
  • Evaluate the performance of procedures to test for fraud and identify controls that can mitigate fraud risks
  • Complete substantive testing to verify correct tracking of assets, and liabilities, and revenues and expenses 
  • Evaluate and test revenue and expense cutoffs for end-of-period accounting, to conform with GAAP rule ASC 606.
  • Identify material and select smaller contracts for close scrutiny to test for proper revenue recognition
  • Evaluate debt, lease and other contractual agreements to identify financial obligations
  • Review potential legal contingencies
  • Observe physical inventory counts and performance independent test counts.
  • Test the adequacy and accuracy of footnote disclosures in financial statements to ensure clarity in statement presentations 
  • Ensure understanding financial statements is a top priority for you and your board, while still offering to help present the audited financial statements

 


Experts
Matt Perreault - Partner, Audit - San Ramon CA | Armanino
Partner
Matt has assisted dozens of companies partnering with the resources and expertise of Moore Global firms.

San Ramon, CA
Ricardo Martinez - Partner, Audit - San Francisco CA | Armanino
Partner
Ricardo graduated from Santa Clara University in 1998 and joined Armanino as a Senior Audit Manager.

San Francisco, CA
Katerina Starkova - Partner, Audit - San Jose CA | Armanino
Partner
Katerina has more than 15 years of public accounting experience in the United States and Canada.

San Jose, CA
Resources
Financial Statement Audit News & Insights
Blog articles
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The SEC and FASB have been hesitant to relinquish control over accounting rules and adopt a more principles-based regim...
Blog articles
Article
The FASB has issued the first major changes to the accounting standards for nonprofits’ financial statement prese...
Blog articles
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Is your organization analyzing the RIGHT timely data to make business decisions and plan for the organization's future?
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