This can be a stand-alone assignment or be part of a business appraisal.
It can be a brief review or an in-depth investigation.
In the vast majority of cases a brief review is sensible to start with.
A brief review normally involves:
- research work before initial meeting or visit
- initial meeting with owner/managers
- discussions with finance personnel
- brief inspection of accounting records and procedures
- review of compliance procedures
- review and analysis of monthly and latest audited accounts
- comparison with industry standards
- dealing with any specific issues on request
- closing meeting
- recommendations
- report
- follow up.
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