System & Organization Control (SOC) Audits
These are one of my favorite types of audits. In these types of audits, we are auditing internal control processes and procedures. These controls include safeguards over sensitive data or timely reporting, among other things. I love interacting and talking with my client. This is also when I get to be creative with designing tests of the controls.
FAR 31 ICP / Overhead Audits
As stated within my Home page, these are audits are typically of government contractors. The Federal Acquisition Regulation (FAR), published by the federal government, includes a section on the allowability of costs – what type of costs can a contractor seek reimbursement for from taxpayer funds. I audit the costs in the Indirect Cost Schedule for the allowability as per FAR 31.
Non-Profit Organization (NPO) Audits
Many non-profits are required to have financial statement audits, either due to the size of total revenues, or as per a grant requirement. As a side to the financial statement audit, my firm also prepares the annual 990, the information return filed annually with the IRS. I feel close to my clients’ causes working closely with them on their financial reporting requirements.
Department of Justice Performance Audits
Another favorite audit are the performance audits through the Department of Justice. These are little 3 day audits of Chapter 7 Bankruptcy Trustees and their administration of bankruptcy cases. I have traveled to some awesome places.
Grant and Compliance Audits, and all others
The great thing about my profession is I am always doing something new, always learning. It is challenging and rewarding. I love getting a new assignment, and the satisfaction that comes from figuring it out and a job well done.
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