Assurance Services
Capin Crouse conducts independent audits in conformity with U.S. generally accepted auditing standards. We continually monitor and maintain standards compliance through ongoing training and development to deliver an opinion on client financial statements prepared in conformity with U.S. generally accepted accounting principles.

Our audit engagements are intended to obtain reasonable assurance that the financial statements are free of material misstatement. To this end, we examine, on a test basis, evidence supporting the amounts and disclosures in financial statements. We also assess the accounting principles used and significant estimates made by management.

Our Risk-based Approach
We believe that the independent audit is a vital tool and platform to understand and assess financial practices and internal controls. We design the audit process to help our clients manage risks and improve practices, as well as to provide meaningful financial reporting that reflects the organization.

Capin Crouse's risk-based auditing approach tailors the audit engagement to best meet the financial reporting needs of each client. Through a combination of interviews with management, review of processes and internal controls, and other assessments, we focus our audit approach on the organization's specific areas of risk (e.g. financial, regulatory, internal growth, personnel, technology).

This specific knowledge combined with management's objectives and concerns not only shapes our audit procedures but also leads to an independent opinion on the financial statements.

Here are the six steps of our risk-based auditing approach:

1. Assess operations by obtaining a thorough understanding of the organization's policies, practices, and processes and systems of internal control. Conduct interviews, complete checklists, perform analytical procedures, and evaluate risks including fraud risks.
2. Evaluate information obtained during the assessment process, conduct further walk through and testing procedures to evaluate internal control strengths and weaknesses, and conduct audit team brainstorming.
3. Develop the final audit plan based on identified risks and mitigating controls by: a) defining high, moderate, and low risk areas; b) determining timing of audit by areas; and c) determining the scope of audit procedures.
4. Complete audit work, typically through the completion of preliminary and final fieldwork. Provide initial drafts of reports to management for review.
5. Perform quality review procedures to assure conformity with generally accepted auditing standards and generally accepted accounting principles.
6. Report results to the audit committee and/or board and obtain feedback from management to continually improve the effectiveness and efficiency of the audit process.

Through this approach, we deliver:

• Audited financial statements in conformity with U.S. generally accepted accounting principles
• A management letter communicating to the board significant matters identified during the audit

Other Assurance Services
In addition to independent audits of financial statements we perform other attestation and assurance services that include Agreed Procedures Engagements designed to perform specific procedures and report findings that meet internal and external user needs. These engagements can also serve to assist internal audit functions of an organization.