Auditing is much more than pouring over the books and giving out a report card at the end of a term...
Auditing and agreed-upon procedures can provide risk management results to your surety, lender, and trade suppliers driving down the cost of borrowing, bonding, and product costs. Think of it: When a company fails to pay or perform, who picks up the tab? The rest of us, of course. By carefully using audited statements, or more surgically using agreed-upon procedures,
business risk can be reduced, and pricing improved in most business relationships.
The larger businesses already know, the certified audit is a necessity in today's risk environment. Business executives are understanding the fiduciary nature of handling others money, and worried about the personal liability that come with that responsibility. Are you certain those pension assets are safe with that firm? Are your health claims submitted on behalf of your employee with a solvent carrier? Those long time customers, who have been getting credit on account, are going to pay right? That key supplier is going to weather
this storm right?
On a more long-term basis, thinking about selling your business someday? How credible are your statements without an attestation? Will the buyer pay top dollar for more uncertainty?
||Get verification of representations made by suppliers/providers that they are capable to deliver.
||Reduce your cost of borrowing, your bonding, and your bad debt from uncollected trade accounts.
||Show fiduciary prudence and due diligence in dealing with personal liability and ERISA matters, such as pension, welfare, and trust fund withholding and sales tax deposits, to escape personal liability.
Capabilities and Tools
The professionals at Bodtke & Stewart understand business risk, because they are audit risks as well. We have procedure and tools to minimize those risks, and we apply them for you:
Annual due diligence inquiry on public and private suppliers and providers to determine financial capacity and confirmation of transaction flow and balances.
Lending and Surety Consultations
Frank discussions with lenders and sureties about the cost of services, with and without an audit examination, and discussion
about loan covenants and personal guarantees by shareholder/officers.
Credit Facility Test of Customers
Perform credit quality checks on existing customers and make inquiry regarding letter of credit support from banks for those customers who may not be good pay, but certainly are good customers.
If we can serve you in your auditing and agreed-upon procedure needs, and provide value to your business processes, we would like to talk with you about our value-added services. Please contact us for a review of what value we
More information on our services: