Audit & Accounting

Forecasts and Projections

From simple projections to complex financial modeling, we can help you effectively manage and lead your business to profitability.

Internal Controls

To safeguard company assets and create a more efficient flow of information, internal controls reviews is one of the most valuable services your accountant can offer.

Small Business Accounting

Running a small business is challenging and often requires a little help from financial experts. To plan and optimize your resources, we offer specialized small-business consulting services in the following areas:

Software Training

With so many accounting software packages on the market, selecting one that is right for you may seem overwhelming. Our experienced staff can help you choose and implement the system that best fits your needs.

What is an Audit?

The general definition of an audit is an evaluation of a person, organization, system, process, enterprise, project or product. Audits are performed to ascertain the reliability of information; also to provide an assessment of a system's internal control. The goal of an audit is to express an opinion on the person / organization/system (etc) in question, under evaluation based on work done on a test basis. Due to practical constraints, an audit seeks to provide only reasonable assurance that the statements are free from material error. Hence, statistical sampling is often adopted in audits. In the case of financial audits, a set of financial statements are said to be true and fair when they are free of material misstatements - a concept influenced by both quantitative and qualitative factors.

Audit is a vital part of Accounting. Traditionally, audits were mainly associated with gaining information about financial systems and the financial records of a company or a business.

However, recent auditing has begun to include other information about the system, such as information about security risks, information systems performance (beyond financial systems), and environmental performance. As a result, there are now professions conducting security audits, IS audits, and environmental audits.

In financial accounting, an audit is an independent assessment of the fairness by which a company's financial statements are presented by its management. It is performed by competent, independent and objective person(s) known as auditors or accountants, who then issue an auditor's report based on the results of the audit.

Such systems must adhere to generally accepted standards set by governing bodies regulating businesses; these standards simply provide assurance for third parties or external users that such statements present a company's financial condition and results of operations "fairly."

See the industries tab for the industries that Marshall Jones performs annual financial statement audits for.

A very specialized type of audit for IT service providers is a SAS 70 audit. There are two types, Type 1 SAS 70 Audits and Type 2 SAS 70 Audits.