We give our clients a global perspective of their financial and operational performance through our audit and assurance services.

Our Audit and Accounting professionals examine and attest to the financial performance and condition of your business. As part of Tait Weller’s service profile, you may also call on us for advice and expertise on a broad range of issues throughout the year, from reviews of internal controls to performance reporting.

“Service” is the lifeblood of our firm; it is why over 80% of our work comes from existing clients, and 20% comes from clients who are dissatisfied with their “Big 4” relationships.

Our size, the way we are structured, and our high caliber professionals allow us to be exceptionally responsive to your unique situation. Throughout the year, you can expect:

  • Partner-level involvement in the engagement
  • Immediate access to extensive industry-specific expertise and resources
  • Engagement teams specifically selected with continuity in mind
  • Experienced, knowledgeable staff professionals to minimize field training
  • Comprehensive, all-inclusive audit fee quotes without hidden costs
  • Routine and timely consultation at no additional charge.

Audit Scope

Tait Weller conducts audits of sufficient scope to enable us to report to boards of directors and/or shareholders that, in our opinion, the financial statements fairly present the financial position at the fiscal year end, the results of operations, and changes in net assets.

Our audits are performed in accordance with the generally accepted auditing standards adopted by the American Institute of Certified Public Accountants and/or the Public Company Accounting Oversight Board. Audits include examination, on a test basis, of evidence to support the amounts and disclosures in the financial statements; assessment of the accounting principles used and significant estimates made by management; and evaluation of the overall financial statement presentation.


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

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.

Assessment of Risk Including Internal Controls

As part of our audit process, we assess the risk of material misstatement in the financial statements. This assessment includes gaining an understanding of the organization and its environment. A significant part of the process is the understanding of the internal control structure. An internal controls review is an important pro-active service Tait Weller provides its audit clients. Strong internal controls are critical to managing any organization and essential to sound financial reporting. We assess the functional areas in your organization and identify your potential exposure to operational and financial risks. Our audit process, our findings, and our recommendations for risk mitigation are outlined in a comprehensive report.

For regulated investment companies, Sarbanes-Oxley contains a number of sections specifically related to internal controls. Section 302 mandates quarterly certification of disclosure controls and procedures. Furthermore, section 404 requires management to assert on an annual basis that the internal controls over financial reporting are effective, and requires the independent auditor to attest to management’s assertion.