Top Auditing Tutors in Brooklyn NY Area
Uh oh! You've been audited. Whether you're talking about an individual's tax returns or the financial statements of a large company, audits are vital to make sure that records are accurate and complete. While internal audits can often be handles by a company's own accounting department, this can often lead to conflicts of interest and biases in favor of the company. In many situations, a person or organization will be subject to an independent audit by an external agency, such as a professional accounting firm or the Internal Revenue Service. Either way, upon completion of an examination, an auditor will supply an auditor's report, which can add credibility to, or cast doubt upon, the financial records of the auditee. A typical audit will begin prior to the end of a firm's financial year and end well after financial statements have been released. Initially, an auditor will engage in planning and risk assessment, gaining an understanding of the entity in question as well as the industry in which it operates, including relevant legal, regulatory, and general business frameworks. Next, an auditor will test the entity's internal controls to determine whether such controls are effective enough to reduce the amount of substantive work required. If the internal controls are strong, auditors will merely compare financial and non-financial information to make sure that the numbers add up. But if the internal controls are determined to be weak or ineffective, the auditor may engage in a painstaking and detailed review of the entity's financials, which would require production of invoices and bank statements to back up the numbers. Lastly, an auditor will finalize the process with a report to management an an opinion based on the evidence obtained. While Tutorspree can't help you conduct an audit of your business, tutors are available across Brooklyn to assist you in learning the basics of auditing and other important accounting principles.
Brooklyn NY 11237
4.33 miles away
MS from University Of Pittsburgh-Bradford.
I am a graduate of the University of Pittsburgh with majors in Accounting and Economics, though my interests are widespread. I have worked in financial services for three years, hold the Certified Internal Auditor and Certified Financial Services Auditor designations, and have completed the Certified Public Accountant exam. I also have a strong p...
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