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Our Governmental Audits are conducted following Generally Accepted Government Auditing Standards (GAGAS), also known as the Yellow Book. These standards are designed for governmental entities and guide audit planning, fieldwork, reporting, and ethical considerations.
We perform a comprehensive audit of the financial statements of governmental entities. . Our audit procedures assure the fairness and reliability of the financial statements.
Many governmental entities receive federal funding and are subject to compliance audits, called Single Audits. These audits ensure that applicable laws, regulations, and grant requirements use federal funds. Our team has extensive experience conducting these compliance audits.
We assess the effectiveness of internal controls within governmental entities. This involves evaluating the design and implementation of financial reporting, compliance, and asset-safeguarding controls. Our team discovers control weaknesses or areas for improvement.
Besides financial audits, we offer performance audits that assess the efficiency and effectiveness of governmental programs, processes, and operations. Performance audits focus on evaluating if the entity is achieving its objectives.
We assist with compliance under the Uniform Guidance (formerly OMB Circular A-133) for entities that receive federal funding. We help ensure compliance with the specific requirements related to internal controls, allowable costs, procurement, reporting, and other aspects of federal grant administration.
We provide clear and concise reporting of audit findings and communicate audit results to management, governing bodies, and other stakeholders. Our team explains the audit procedures performed, identifies any issues or areas of concern, and provides practical recommendations for addressing identified deficiencies.
We offer consulting and advisory services to governmental entities throughout the audit process. This process may include guidance on accounting policies, financial reporting, compliance matters, internal control enhancements, and best practices in governmental operations.
Teuscher Walpole’s Governmental Audit services provide accurate, reliable, and compliant financial reporting for governmental entities. Our team of experienced auditors understands governmental organizations’ unique challenges and regulatory requirements.
Contact us to learn more about how our Governmental Audit services can support your organization’s needs and help ensure transparency, accountability, and compliance in your financial reporting.