Wai & Associates provides a unique portfolio of auditing and audit support services uniquely tailored for each of our clients. Our portfolio of auditing and audit support services are as follows and described further below:
- Financial Statements Audit
- Audit Readiness & Resolution
- Internal Audits and Reviews
- Other Complementary Audits & Reviews
Financial Statements Audit
As a licensed Certified Public Accounting firm, we provide independent audit services in accordance with generally accepted auditing standards and CFO Act. While our audit approach is designed to determine the fair presentation of our audit client’s financial statements in accordance with generally accepted accounting principles, we also provide a set of management letter comments that provides insight into our client’s financial management environment so they can management them better and avoid surprises.
Our audit focuses on areas of risk in our clients operation. We strive to provide management better insight on these risks through our audit results and recommendations on how to mitigate the risks. Our control-based audit approach allows us to also report on the effectiveness of internal control or as applicable issue an opinion on internal control. We also report on our audit client’s compliance with applicable laws and regulations. Our audit is performed in accordance with generally accepted auditing standards. Our client-centered approach ensures that we provide our clients actionable audit recommendations that drive greater efficiencies and effectiveness.
Audit Readiness & Resolution
In today’s high burden regulatory environment businesses and government agencies find themselves constrained by weak control environment or having to address numerous findings and recommendations stemming from various external audits and reviews including financial statements audits, internal control reviews, and operational and programmatic audits. With an outstanding staff of experienced auditors, consultants, internal control experts, we are equipped to help our clients understand and resolve internal control weaknesses, while maintaining an effective system of internal control, and reducing the burden on day to day operations.
Internal Audits and Reviews
As part of our internal audit portolio, we perform review of financial, operational, performance and programmatic activities and underlying internal control in accordance with applicable internal and external requirements and best practices established by our clients. We perform internal audit procedures in accordance with standards established by the Institute of Internal Auditors as well as other internal policies and procedures.
Other Complimentary Audits & Reviews
We provide other complimentary audit services including OMB Circular A-133 Single Audits, Agreed-Upon Procedures (AUPs), Cost Proposal Audits, Improper Payment Reviews, and Payment Recapture Audits. We perform these audits and reviews in accordance with generally accepted auditing standards, applicable OMB guidance, and requirements of Federal Acquisition Regulations.