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Audit Process

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Our audit team conducts a pre-audit conference with client personnel to address potential issues early on, to ensure that there is a clear understanding of our respective responsibilities and obligations, and to establish a realistic timetable for completing the engagement. We provide the following as part of our engagement:

  • Annual financial statements for the fiscal year end and auditors’ report
  • For regulated investment companies, review of financial information in Form N-1A and issuance of consent
  • Internal control report for the Form N-SAR
  • Preparation of Federal and State tax returns
  • Board and committee meeting appearances
  • Preparation of letter in accordance with SAS 114 to those charged with governance of the organization
  • Periodic accounting and business discussions throughout the year.

As an integral part of each audit engagement, we prepare a letter to management detailing any recommendations and suggestions, which we develop during the course of our audit. The Management Letter discusses internal controls, tax planning and other matters, and contains recommendations to help management improve operating efficiencies, internal controls, and compliance with regulatory record keeping requirements. Throughout the year, we assist clients in correcting potential weaknesses, and in overcoming potential obstacles to implementing our recommendations.

 

 

© 2016 Tait Weller, All Rights Reserved    Philadelphia, PA   215.979.8800    New York, NY   212.907.6496    Iselin, NJ   732.634.7940

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