Audit and Assurance
Financial reporting and auditing
Financial reporting and corporate auditing are core services for most Russell Bedford firms.
Management, investors and lenders need to review and trust your financial information to understand your business operations, plan for the future and determine the risks involved in committing funds and resources. Russell Bedford's audit and assurance teams understand clients' businesses and industries, and the needs of other stakeholders who request their financial data.
As a global audit network and a member of the IFAC Forum of Firms, Russell Bedford is totally committed to quality, integrity and independence. In accordance with the IESBA Code of Ethics, member firms are required to use their best endeavours to ensure that they are independent of the financial statement audit clients of other members.
Statutory audits and reviews
Business owners may perceive the preparation of annual financial statements and the audit or review simply as a legal obligation. At Russell Bedford, we prefer to view these as diagnostic tools, helping to reveal issues which can then be addressed by identifying realistic and practical solutions. The audit process may even lead to improvements in efficiency and profitability. Our experienced and impartial auditors take an objective view of the business, fulfilling statutory requirements while providing clear and constructive advice.
While an annual audit is no longer a statutory requirement for small and medium sized businesses in many jurisdictions, companies often opt for a voluntary audit in order to monitor their financial position, help to mitigate future risk and turn inefficiencies into opportunities. Whether an audit is a legal requirement or voluntary, with Russell Bedford firms, the audit process is based upon adding value.
Multinational reporting and auditing
As leading specialists in audit and compliance, Russell Bedford member firms prepare reports across a wide number of international jurisdictions, compiled in accordance with both local and international standards and regulations. For multinational groups and organisations, our firms provide consistent and seamless financial reporting and auditing services, including consolidated group compliance and reporting, integrated reporting, IFRS financial statements and conversion from local GAAP, global internal audits and transnational statutory audits.
Internal controls
Russell Bedford firms are experienced in performing reviews and assessments of the design and effectiveness of companies' internal systems and controls (SOC reporting), to help clients improve the effectiveness of risk management and governance processes, enhance the integrity of corporate financial information and avoid fraud.
Specialised services
Depending on the jurisdiction, specialist audits can be highly regulated, with strict procedures and reporting requirements. In relevant markets, Russell Bedford firms have the necessary in-depth knowledge, technical expertise and licences required to audit banks and financial institutions, charities and foundations, non-profit entities, employee benefit plans / pension schemes, and publicly listed companies (PCAOB audits and SEC reporting).