creative vision

Internal Audit

Our Audit Approach

Our audit methodology, is designed to achieve our audit objectives efficiently and consistently. This methodology is risk-based in that it focuses audit effort in the financial statement areas that represent the greatest risk.

Methodology

Our Methodology’s principal components consist of:

  • identifying financial statement risks,
  • evaluating the likelihood that those risks could cause a material misstatement
  • developing an appropriate response to the identified risks.

An understanding of your operations and your financial reporting processes is critical in applying the methodology.

This understanding helps us to:

  • make better risk assessments
  • focus our audit efforts
  • determine whether specialized skills are needed to achieve our audit objectives.

In addition, the understanding of your operations that we gain in order to assess risks allows the audit team to provide constructive recommendations and sound advice

Creative Vision applies Audit Methodology. Audit teams use this methodology to complete all as-pects of the engagement from planning to wrap-up. In this methodology, audit teams identify financial statement risks and link them to the processes and internal controls that you have established to address those risks.

Creative Vision's audit methodology is the same regardless of the size or type of entity, the procedures selected and the extent of work performed will vary considerably for each audit. Audit Methodology is Creative Vision’s means of complying with firm policies and professional standards, including the standards established by the International Federation of Accountants.

Copyright 2015 Creative Vision

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