Audit, Reviews
& Compilations
Building trust and solving complex problems for your business.
CONTACT OUR EXPERTSAudit and assurance services are a core part of what we do at Adeptus Partners.
As part of the Adeptus Advisors family, we work with a range of organizations including nonprofits, private companies, and employee benefit plans to meet regulatory and financial reporting requirements.
See our services below:
Audits
Public PCAOB Audits, including SPACs, de-SPACs, traditional IPO’s and Private Companies Looking to Eventually Become a Public Company
Public PCAOB Audits, including SPACs, de-SPACs, traditional IPO’s and Private Companies looking to eventually become a Public Company provide independent assurance over financial reporting, supporting SEC compliance, business continuity, and informed decisions.
Audits
Private For-Profit Audits
Private audits for for-profit companies provide independent assurance over financial reporting, helping meet stakeholder expectations, enhance internal controls, and support strategic decision-making
Audits
Nonprofit Audits
Non-profit audits provide assurance that a nonprofit organization’s financial statements are fairly presented and in compliance with relevant regulations and donor restrictions.
Audits
Employee Benefit Plan Audits
These audits evaluate the financial condition and regulatory compliance of employee benefit plans, such as 401(k)s, ensuring participants’ interests are protected.
Audits
Pension Audits
Pension audits focus on verifying the financial integrity and regulatory compliance of pension funds, safeguarding retiree benefits and ensuring proper fund management.
Audits
Compilations
Compilations involve assembling financial data into financial statements without providing assurance or analysis, typically for internal or management use.
Audits
Reviews
Reviews are limited-scope financial examinations that provide moderate assurance through inquiry and analytical procedures, falling between compilations and full audits in terms of depth.
Audits
Royalty Audit & Contract Compliance
Adeptus’ Royalty Audit & Contract Compliance Group provides the following services:
- Royalty, Profit Participation, Joint Venture, and Contract Compliance audits
- Financial Due Diligence reviews (IP Acquisitions, Securitizations, and Lending)
- Intellectual Property valuations
- Litigation consulting and Expert Witness testimony
- Most Favored Nations (MFN) audits
- Franchise audits
- Royalty administration and statement preparation
- Audit Defense
- Contract review and consultation
- Reporting processes review and consultation
Please review our
Audit FAQs
Our
Audit Approach
Our audit approach is simple…invest a substantial amount of time getting to know you, your needs and your wants. Then we learn about your business, not simply relying on our knowledge of the business that you are in. We want to know how you do what you do. After that initial phase is complete, we then break down the auditing process into three simple parts, the Planning Phase, Fieldwork Phases, and Reporting Phase.
Detailed
Planning
During this phase, we will be able to get a good grasp of your organization’s structure, environment, operations and the overall accounting and internal controls system. An assessment of policies and accounting contributions, including donated materials and services, will also be conducted at this time. From this review, we hope to:
- Analyze financial reports
- Briefly interview your accounting staff
- Understand internal controls
- Evaluate auditing procedures tailored to each specific instance
- Identify issues or areas of special concern to be addressed from the client
Information gathered during the first visit will generate the requested list of items needed from you and your staff for the fieldwork visit. This list will be provided shortly after our initial planning visit.
Audit
Fieldwork
At our second visit, we will perform the traditional audit fieldwork. This process will concentrate on transaction testing. During this phase, the auditor determines whether the controls identified during the preliminary review are operating properly and in the manner described by the client. It is throughout this phase that we hope to:
- Gather and summarize audit findings, conclusions and recommendations
- Test the major internal controls and the accuracy and propriety of the transactions
- Discuss any significant findings with client
- Receive insight and cooperation from the client to determine best method for resolving the findings
- Generate memos/emails to ensure full understanding by the client and the auditor
Ongoing
Reporting
When the audit is in the final phase, the team will draft our report. Here, we express our opinions, present the audit findings and discuss recommendations for improvements. At this point, the client will have an opportunity to respond to the audit findings prior to issuance of the final report.
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