Internal audit services from a CPA firm
A lender, a board or a buyer wants proof that your team checks its own payments and reconciliations. Tell us which processes to review and we will scope the work and price it.
500+
audit and attestation engagements
AICPA
peer-reviewed firm
16+
years auditing experience
What internal audit services cover
In an internal audit we examine your own accounting processes and controls and report what we found to your management or owner. You get the findings, the evidence behind each one, and what we recommend.
In an external audit we give your lenders, investors or regulators an opinion on whether your financial statements are fairly presented, and we run that as a financial statement audit.
By internal control we mean the checks inside your accounting: who approves a payment, who reconciles the bank, who can change a vendor record. In an internal controls audit we test whether your team follows those checks the way your written process describes them.
When a company needs internal audit services
When a third party requests control evidence.
A lender, an investor, a board or a federal grant office sets this as a condition before it commits. Your external auditor may have raised a control weakness last year and expects it closed.
When you find an approval or reconciliation problem.
You found a payment your team made without a signature, an unexplained difference in a reconciliation, or a change to a supplier's bank details with no record of who made it. You want to know how much of the year we should look at.
Either way, we ask the same question in internal audit and risk management work: what could go wrong here, and who would catch it.
Which accounting cycles we review in an internal audit
Our internal auditing services cover the cycles you put inside the scope:
Revenue and receivables
We follow an invoice from the sales record to the cash and check who could change it.
Purchasing and payables
We test who sets up a supplier, who approves a bill, and whether one person can do both.
Payroll
We check who tells payroll about a new hire, a pay change or a termination, and who signs each one off.
Cash and bank
We take the reconciliations your team filed and re-perform a sample against the statements.
Inventory and cost of goods
We compare the quantity in your records against what your people counted.
Month-end close
We read the journal entries posted at close and check who reviewed them.
Where your own team covers part of this, we quote internal audit support services for the rest.
Where we draw the line on internal audit scope
We review finance and accounting processes. Tell us what your board expects: a chief audit executive, an audit committee reporting line, or work under Institute of Internal Auditors standards. We will say what we can cover. If you are comparing internal audit firms, ask what each will not take on.
Send us the request you received
Forward the letter, the covenant clause or the grant condition behind the request. We will read what they are asking of you and tell you which review to commission.
George Dimov on working outside your own state:
We work with clients all over the country as well as internationally... So don't feel constrained and say, 'Hey, I need to find something I can drive to.' Reach out and we'll let you know.
What an internal audit costs
We look at your records first and quote after that. Send the scope you have in mind with a recent trial balance and general ledger.
We set the fee from what you put inside the scope:
- Number of cycles and entities you want us to review
- An existing plan or a scope we build with you
- Working papers your external auditor or a buyer can use
We bill a fixed fee for the agreed scope, so the number you sign is the number you pay unless you widen it. Ask internal audit companies for a fixed scope in writing.
On how the firm worked to a deadline:
Dimov Tax showed remarkable professionalism, dedication, and attention to detail throughout the entire audit process. Despite a very tight deadline on our end, they managed to deliver the completed audit (US GAAP) in due time, ensuring a seamless and efficient experience for our organization.
Related services
- 01Internal audit outsourcing
- 02SOX compliance audits
- 03Financial statement audits
- 04External audit services
- 05Forensic audits
Treat the information here as general, not advice for your circumstances. Ask a CPA to look at your facts before you commit to a scope.
Get a scope and a fee for your internal audit
Tell us which cycles you want reviewed and who asked you for this. We will come back with a scope, a timetable and a fee.
Contact
Connect with Dimov Audit
Our dedicated team is ready to assist you on your path to financial success.
24 Mercer St, 2nd Floor, Suite 214
New York, NY 10013
United States
Reviewed by George Dimov, CPA. Dimov Audit reviews accounting processes and internal controls for private companies across all 50 states. George brings 20+ years of accounting and consulting experience. Profile