The following is a list of some questions you might want to ask an auditor prior to hiring them for the engagement. Find out how Cook & Associates can add value and expertise in your audit.
1. Are you independent?
Auditors must be independent and objective when conducting audits. They cannot have a prior working relationship with your organization or provide in-house services. At Cook & Associates we maintain a professional relationship that keeps your best interest in mind.
2. What is your audit experience?
The managing partner at Cook & Associates has over twenty-five years experience in auditing. In that time, he has performed in excess of one hundred audits of various industries.
3. How will you manage the engagement?
Cook & Associates is staffed with professional and support personnel to provide all necessary services and to maintain personalized involvement with each client. Each audit is overseen by the managing partner. Staff members are directly supervised by the partner to ensure that the goals, objectives, and deadlines are met.
4. What type of reports do I get?
Our firm provides all reports requested by the audited entity. These generally include an independent auditors’ report, audited financial statements, and a report on internal control.
5. What auditing standards are used?
Auditing standards provide measures of quality that can be used to judge the effectiveness of the tests and procedures used to meet the audit objective. Standards for traditional financial audits are known as generally accepted auditing standards (GAAS) and are promulgated by the American Institute of Certified Public Accountants (AICPA) through the Auditing Standard Board.
6. What are your certifications?
Management qualifications: All audit staff at Cook & Associates have received Masters in Accounting. Both partners hold the title of Certified Public Accountant (CPA).
Professional associations: The firm is a member of the San Antonio Chapter of the Texas Society of CPAs. The firm is also a member of the Texas Association of CPAs.
Recognition: The firm has been published in the San Antonio Business Journal.
7. Have you performed audits for our industry before?
Cook & Associates has performed audits for many types of entities, including governmental, nonprofit, department of education, housing and urban development (HUD), and nonpublic organizations. We are well versed in the standards and regulations applicable to each.
8. What is your service approach and methodology?
Cook & Associates thoroughly understands the nature of the work to be performed. We have developed programs and procedures designed specifically for these engagements. Both the partners and the staff will have familiarity with the organization’s operating environment due to their ongoing involvement with other clients.
9. Will you provide constructive feedback?
A management letter is provided to our clients at the end of every engagement. This letter addresses internal control issues, potential areas of improvement, and an overall discussion on the financial health of your entity.
10. Why should we choose your firm?
You need a firm that has extensive audit knowledge, sufficient staffing, and an understanding of your entity. At Cook & Associates we strive to provide top-notch service and present your organization with the reports and feedback it needs to maintain a reliable accounting system.
--LeAnn Carlson
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