At Grant Thornton, we use a single audit methodology across our global network.
This means that our clients gain the same proven, high-quality approach wherever they are.
Our audit methodology targets our audit efforts on those areas of your financial statements that represent the greatest risk. It features integrated quality-control processes, including policies and procedures for engagement quality control.
Our methodology is underpinned by established processes and cutting-edge technology. We don’t concentrate on robotic verification; rather we ensure compliance and help to improve the way you do business – including systems and internal controls, risk management, and adoption of appropriate accounting policies.
Our established audit process
We apply a five-step method that helps us quickly understand your business and deliver results at speed.
Step one: Planning
Here, our expert teams work to understand your operations, internal controls and information system. We will then present to you an audit timetable that meets your requirements.
The result: a tailored audit strategy that is structured around your organisation.
Step two: Risk assessment
Next, we use this knowledge to assess your financial reporting risk, – particularly in critical areas of your business. We identify issues early to allow time for thorough investigation and adequate response.
Step three: Evaluation of internal controls
Robust internal controls are the key to a more stable organisation. Where possible we’ll test your internal controls and report on results and if necessary, suggest measures for improvements.
Step four: Audit testing
Our teams use sophisticated tools, including data interrogation software, to analyse your balances and transactions, and enhance your operations.
Step five: Concluding activities and reporting
At this stage, we apply additional checks to ensure the accuracy of our work. We then turn the raw results into actionable insights, so you can rapidly drive improvements across your organisation.