FREQUENTLY ASKED QUESTIONS

What type of audit support staff will be assigned to the Church audit?
The following staff will be assigned to the Church audit.
          Project Manager
          Supervisor
          Audit Staff

What type and extent of supervision is provided with the audit field team?     
The project manager will supervise the audit team.

Are firm partners responsible for review of the final work product produced by audit staff?     
The firm’s partner/project manager will review all working papers and take responsibility for the audit report.

To what extent can the church provide assistance in preparing work papers and schedules for the audit in order to minimize fees?      
During the performance of the audit we will endeavor to use your personnel to the extent practicable to assist us in schedule preparation, confirmation procedures, document retrieval and filing. The specific details of such assistance, and the timing thereof, will be planned so as to cause as little disruption in your normal operations as possible. Having your people assist can hold cost involved to a minimum.

Is there a particular time during the year that is more suitable for conducting an audit?     
Yes (when the books are closed at year-end, financial records are available for review and church staff is not too busy to assist with the audit process.

Is the firm licensed by the State of Michigan to conduct full audits of Financial Statements?     
Yes

Does an audit of Financial Statements include a Management Letter outlining issues and recommendations on Internal Control?     
Yes

Does the firm offer other unaudited financial statements services such as compilation and reviews?     
Yes.

Has the firm conducted full audits of Churches in the local area?     
Yes. (List of clients available on request)

Has the firm conducted compilations or review of local Churches?      
Yes.