Financial Statement Auditing
Tronconi Segarra & Associates’ financial statement auditing services are designed to provide clients, client stakeholders and their financing sources with a high degree of credibility and confidence in their financial reporting. Financial statements are typically audited annually to give business owners CEOs and CFOs an accurate, year-over-year historical look at their financial performance; and to enable budgets and forecasts to be done based on confident historical information.
We are frequently asked by our business clients how long the audit process will take. While the actual audit process may take only several weeks to a few months, our answer is that communication between our Firm and the client about the client’s business and financial matters should be a year-round event. Clients who receive the most value from their relationship with Tronconi Segarra & Associates are those who view us as their trusted advisor, allowing us to really know their business goals and objectives, and to stay current with them and their business all year long, not just during the audit. This enables us to proactively develop tailored solutions that will provide them with enhanced value and support to their management initiatives, strengthen financial systems and controls, engage more effectively with stakeholders and better anticipate the impact of changing rules and regulations.
Most business owners, CEOs and CFOs appreciate the fact that we are available to them throughout the year; and that they can consult with us to gain a better understanding of the impact or consequences of various actions under consideration. Constant improvement is a goal we help our clients reach by including recommendations on how to improve business efficiencies and management effectiveness. We also work with clients to control and monitor business and financial risks and ensure they have adequate information to plan for success.
As part of our auditing services, Tronconi Segarra & Associates will often prepare a Management Letter containing our specific recommendations and suggestions with regard to a client’s business, covering issues such as internal controls, tax planning and other matters which we believe play a role in their performance and profitability. Throughout the year, until the next annual audit, we will work with the client to correct potential weaknesses, maximize opportunities and assist in overcoming barriers management may have in implementing our recommendations.
Tronconi Segarra & Associates also provides related services, including financial statement reviews, compilations and non-disclosure compilations, to businesses (and their funding sources) that may not require the high level of assurance that a financial statement audit provides.