Audit & Assurance

Michael O’Grady & Co provides a wide range of audit and assurance services to our clients including statutory audit, internal audit and purpose audit engagements.
We provide specialist advice not only to meet your statutory obligations but to identify major issues affecting your business. We emphasise the benefits of long term relationships and a whole of business approach. We see our audit brief as an interactive and proactive one founded on technical proficiency and a sound practical understanding of our clients’ audit needs.

Statutory Audits

A statutory audit is an objective examination and evaluation of financial records. All information provided during an audit undergoes a verification process to confirm the financial statements are fairly stated and free of material misstatements. Audits provide the highest level of assurance.

Reviews

A review is a limited analysis of any material modifications that should be made in order for financial statements to be in conformity with generally accepted accounting principles. A review is less comprehensive than an audit; therefore, it is an expression of “limited assurance.”

Compilations

A compilation is the preparation of a report in the form of a financial statement based upon information provided by the business or client. The information being compiled and reported does not go through a verification process and no assurance is expressed that the statements are in conformity with generally accepted accounting principles.

Michael O’Grady & Co undertakes statutory audits in the following business sectors;

  • Manufacturing & Service Companies
  • Companies Limited by Guarantee (property management companies, Child Care Facilities etc)
  • Charities
  • Co operatives (Group Water Schemes etc)
  • Credit Unions