Fieldwork
How an audit engagement unfolds
A clear sequence from first scoping call to signed auditor’s report — built for finance teams who need predictability around inventory counts and lender deadlines.
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01
Scoping
We gather entity charts, year-end dates, inventory sites, and prior-year management letters. You receive a fee estimate and draft timeline before any engagement letter is signed.
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02
Planning
Materiality, significant risks, and confirmation mailing dates are set. Finance receives a request list for trial balances, drafts, and bank authorisations.
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03
Interim & year-end visits
Associates test transactions and balances on site. Partners attend inventory observation at agreed warehouses, including annexes named in the count plan.
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04
Clearance
Draft adjusting entries and control observations are discussed while there is still time to post. Open items are dated, not left vague.
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05
Report issuance
The auditor’s report and management letter are issued after partner review. Billing for the engagement balance follows the fee schedule in your letter.
How far ahead should we book inventory observation?
For March year-ends, we prefer to lock count dates by mid-January so travel and dual-site coverage can be staffed.
Can fieldwork be partly remote?
Schedule review and some substantive testing can occur remotely. Inventory observation and certain walkthroughs remain on site.
What if a typhoon delays a count?
We reschedule observation and document the delay in the audit file. Fee implications for significant postponements are handled under our refund and rescheduling terms.