Audit Readiness and Remediation Services

Audit readiness and remediation services are carefully designed to ensure that your financial statements are free of material errors, getting you through the audit, and remediating any audit issues.

Your audit firm is responsible for providing your audit report.  However due to conflict of interests and legal requirements restricting their ability to enter into separate advisory services, you will need to remediate yourself any issues resulting from the audit.

Pensapos gets involved at three stages of the process:

1. Audit Preparation – if you know you have some issues, Pensapos will help you to get ready for your audit.  Resolving known issues prior to your auditors arrive can prevent significant charges from your auditor.
2. Audit Process – providing services to manage the relationship between you and your auditors.  Most appropriate for businesses who need to focus on their day to day activities and don´t want to be distracted by the audit process-
3. Remediation Services.  Have you received audit advisories that need to be resolved prior to the next audit?  Or has your internal audit team identified weaknesses in your internal controls environment?  Pensapos can help you to overcome these.

What issues we can address?

Examples of potential issues that Pensapos can help you address include…

1. Complete review of Balance Sheet, P&L and Cash Flow Statements.
2. Balance Sheet Reconciliation failures.
3. Ensure compliance with various international accounting standards and reconciliations between them.
4. Tax computations.
5. Issues requiring restatement of prior year financials.
6. Tax investigations.
7. Internal Control testing.