Menendez & Company is dedicated to providing our clients with exceptional service and quality products and committed to helping our clients succeed. Our services go beyond the services we are engaged to perform.
Audits
Our auditing services entail much more than examining the financial statements and issuing a report.
Our firm uses a comprehensive approach for auditing. We work directly with the management and staff of our audit clients with a goal towards building a collaborative relationship. We offer a tailored approach to each audit and take time getting to know our clients and their businesses
An audit involves a comprehensive examination of a business's financial records. The goal is for the auditors to express an unmodified opinion that the company's financial statements are presented in accordance with generally accepted accounting principles. To do so, the auditors test the underlying data supporting the financial statements.
Our auditing services entail much more than examining the financial statements and issuing a report. Menendez & Company uses a comprehensive approach to ensure our clients receive more than an audit report. Our goal is to provide our clients with additional value-added information to assist them in the growth of their organization.
During our services, we will discuss with you issues that may assist you in improving your operational efficiency and strengthen your internal controls. Menendez & Company is dedicated to our clients and strive to exceeding their expectations.
In addition to receiving the highest level of assurance providing reasonable assurance on the financial statements, an Audit allows you to...
• Satisfy stakeholders such as customers, suppliers, investors,
as to the credibility of published financial statements
• Improve your business strategy
• Comply with governing agencies or banking covenants
• Renovate your internal control and accounting processes
Reviews & Compilations
The objective of a review engagement is to enable an auditor to state whether, on the basis of procedures which do not provide all the evidence that would be required in an audit, anything has come to the auditor's attention that causes the auditor to believe that the financial statements are not prepared, in all material respects, in accordance with an applicable financial reporting framework.
Menendez & Company will review your financial statements by making inquiries and performing analytical procedures necessary to express limited assurance on your financial statements.
A compilation engagement is an engagement in which accounting expertise, as opposed to auditing expertise, is used to collect, classify and summarise financial information. The experience of the accountant ensures that the financial information is presented in accordance with an applicable financial reporting framework. A report is presented which gives credibility to the presentation process.
Agreed-Upon Procedures
An agreed-upon procedures engagement is an engagement in which an auditor is engaged to carry out those procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings. The recipients of the report form their own conclusions from the report by the auditor.
The report is restricted to those parties that have agreed to the procedures to be performed since others, unaware of the reasons for the procedures may misinterpret the results.
Internal Controls
At times you may need a trained outside professional to evaluate your company's operations to determine if the appropriate controls are in place to ensure proper handling of resources and to protect yourself from employee theft.
We assess your internal control systems to determine the efficiency and effectiveness of your operating procedures. Then we make recommendations that help your company become stronger and more profitable by correcting any inefficient or ineffective operating procedures we find.
What we do for you...
• Implement segregation of duties so that duties are divided, or segregated, among different people to reduce risk of error or inappropriate actions. No one person has control over all aspects of any financial transaction.
• Make sure transactions are authorized by a person delegated approval authority when the transactions are consistent with policy and funds are available.
• Ensure records are routinely reviewed and reconciled, by someone other than the preparer or transactor, to determine that transactions have been properly processed.
• Make certain that equipment, inventories, cash and other property are secured physically, counted periodically, and compared with item descriptions shown on control records.
• Provide employees with appropriate training and guidance to ensure they have the knowledge necessary to carry out their job duties, are provided with an appropriate level of direction and supervision, and are aware of the proper channels for reporting suspected improprieties.
• Document policies and procedures and making them accessible to employees. The documented policies and procedures provide day-to-day guidance to your staff and continuation of duties in the event of prolonged employee absences or turnover.
• Review operations to ascertain whether results are consistent with established objectives and goals and whether the operations are being carried out as planned.