ATTEST STATEMENT

SERVICES OF AUDIT
PROCEDURES
Student: Anmol Walia
Mentor: Mr. Dennis Gardner, CPA
Wrinkle, Gardner & Company, P.C.
Independent Study Mentorship - Spring 2018
Mrs.Click
Introduction
➢ As a disclaimer some of the information in this
presentation is from outside sources
➢ You can visit anmolwaliaismsem2.weebly.com
for any additional information or just as a
preview of my time shadowing under this topic
➢ Throughout the presentation I will incorporate
various found artifacts from the office
DENNIS C. GARDNER, CPA
Wrinkle, Gardner & Company, P.C.
3231 West Parkwood FM528
Friendswood, TX 77546

➢ Mr.Gardner is a Certified Public

Accountant with a BS in accounting from
the University of Houston - Clear Lake
➢ He heads the consolidation services,
accounting, attestation and auditing
practices at the firm

To my left is mentor, Mr.Dennis Gardner, and

standing on my right is manager of audit at
the firm, Mr.Joey Bradshaw.
ISM
Independent Study Mentorship (ISM) is an advanced academic course
designed for students seeking professional experience in an environment
of a chosen career, the program requires students to

➢ Complete an in-depth study in a topic of interest

➢ Document 3 mentorship hours per week along with maintaining a
Journal Entry
➢ Complete an ISM Professional Portfolio
➢ Develop a Final Product and Presentation to a panel of graders

“Home - Clear Creek.” Home - Clear Creek, www.ccisd.net/.

Project Topic
ATTEST STATEMENT SERVICES OF AUDIT PROCEDURES

My topic of interest explores the distinction between the three

main services offered up by audit firms.

I chose my topic for its accessibility and understanding benefits

➢ Wrinkle, Gardner & Co.’s assurance of quality

on all three services
➢ The basics I learned from last semester will
assist me to understand the final product much
better
Research
➢ Differences in Types of Service

➢ Formal Paperwork Involved in the Communication with a Client

➢ How Audit Field Monitoring are Conducted

➢ How Crucial Client Deadlines Crossover to WG Deadlines

➢ Seasonal Habits/Duties

Financial Clipart Free | Clipart Panda - Free Clipart Images,

www.clipartpanda.com/categories/financial-clipart-free.
 Compilation Service
➢ Most appropriate choice of service when minimal financing or credit is required
➢ Lowest level of financial statement service offered
○ Can omit footnotes
○ Low liability
○ Cash assets not needed
➢ Assurance
○ CPA provides no assurance over any material modifications to be made for
the client
➢ Objective
○ To provide accounting expertise to the management sector for financial
statement preparation
➢ Average Completion Time: 1 hour (with footnotes 16 - 20 hours)
➢ Primary Responsibility - Financial statements

“Drive Action with Security Metrics.” Drive Action with

Security Metrics | Tenable Network Security,
www.tenable.com/lp/campaigns/security-metrics/index.html.\
Review Service
➢ Review reports are sought out in growing, the higher level of complexity along
with greater assurance in financial statements allows businesses to get a more
proper evaluation Brooks, Ambrose. “Session II – Compliance with Technical Standards.”
➢ Medium level of financial service offered SlidePlayer, 17 Dec. 2017, slideplayer.com/slide/6005594/.

○ Requires footnotes
○ Contains conclusion, and awareness of whether or not a misstatement
○ Increased liability from compilation
➢ Assurance
○ CPA provides limited assurance over any material modifications to be
made for the client
➢ Objective
○ To provide limited assurance in financial reporting and whether the client
is following proper framework along through field monitoring
➢ Average Completion Time: 30 - 80 hours
➢ Primary Responsibility - limited assurance as a basis for reporting awareness of
a misstatement
 “In
Audit Service our
opin
ion…
”
➢ Audit reports are the highest level of assurance that cover and assess
your business from any discrepancies or frauds in financial statements
➢ Highest level of financial service offered
○ Most complex, requires all forms and components
○ Issues an Opinion!
➢ Assurance Guide To Financial Statement Services.” COMPILATION, REVIEW AND AUDIT,
www.aicpa.org/InterestAreas/PrivateCompaniesPracticeSection/QualityServicesDelivery/Keeping
○ CPA provides reasonable assurance about whether no material Up/DownloadableDocuments/financial-statement-services-guide.pdf.

misstatements are present for the client

➢ Objective
○ To provide reasonable assurance of a client’s possession of
material misstatement all under financial guidelines and
parameters and audit monitoring
➢ Average Completion Time: 100 - 400 hours
➢ Primary Responsibility - provide a basis for an audit opinion
Audit Field Monitoring
➢ When an auditor issues an opinion they must understand that they hold the burden of justifying those opinions
○ Essentially CYB
➢ When counts must be made, auditors are aware to be critical of their assignment as a the possibility of a
misstatement will not only affect the client but fail the auditing firm in complying with (PCAOB)
requirements
➢ PCAOB falls into a group of overseers or organizations devoted to maintaining parallel accounting principles
○ GAAP- Generally Accepted Accounting Principles
○ FASB- Final Accounting Standards Board
○ PCAOB- Public Company Accounting Oversight Board

What Are the Roles and Responsibilities of an Internal Audit Team, Quora, www.quora.com.
Deloitte Collaborates with Oracle
Current Event-

➢ Supply chain management includes the entire process and means

of satisfying a consumer from the market perspective
➢ I took interest in this current event because of what I know about
Oracle software and their position as a global business
Product and Artifacts
“Read, Write, Discover, and Share the Books
You'll Always Remember.” Storybird,
storybird.com/.
Conclusion
It has been truly remarkable and educating in having the
opportunity to shadow here at WG. I feel so much more
comfortable in the career path I was initially clueless over.
Additionally, the advice I have received from each of the
team members here individually has been enlightening and
will definitely not be overlooked as I look forward to
heading to college and pursuing accounting.

Constine, Josh. “The Conclusion.” TechCrunch, TechCrunch, 14 Aug. 2016,

techcrunch.com/2016/08/14/compost/.
Finally,

I would like to show great thanks to Wrinkle, Gardner & Co. for all the generosity and
comfortability they’ve provided in this learning process.

A great thanks in particular to Mr.Joel McCray, Mr.Joey Bradshaw, and Mrs.Morgan Nathan for
the time they have taken out of their busy schedules in helping in my development here. A most
sincere thank you to Mr.Dennis Gardner for being my mentor and directly influencing my
opinions of the audit and accounting world.Thank You evaluators for allowing me to share what
I’ve learned with you today. Thank You Mrs.Nylen for coming out for this presentation
especially during this busy time in the school year. Thanks Mom! I most definitely would not be
here without you! And Thank You Mrs.Click for the helping me experience a profession of my
interest outside of a classroom setting.

“Thank You Banner.” Best Business Template, www.soccerbbc.com/15965/thank-you-banner.html.

Works Cited/References
● Brooks, Ambrose. “Session II – Compliance with Technical Standards.” SlidePlayer, 17 Dec. 2017, slideplayer.com/slide/6005594/.
● Constine, Josh. “The Conclusion.” TechCrunch, TechCrunch, 14 Aug. 2016, techcrunch.com/2016/08/14/compost/.
● “Deloitte Collaborates with Oracle on Release of Oracle Supply Chain Management Cloud Solution.” Prnewsire, PR Newswire Association LLC., 29 Jan. 2018,

www.prnewswire.com/news-releases/deloitte-collaborates-with-oracle-on-release-of-oracle-supply-chain-management-cloud-solution-300588635.html.

● Drive Action with Security Metrics.” Drive Action with Security Metrics | Tenable Network Security,
www.tenable.com/lp/campaigns/security-metrics/index.html.\
● Financial Clipart Free | Clipart Panda - Free Clipart Images, www.clipartpanda.com/categories/financial-clipart-free

● “Guide To Financial Statement Services.” COMPILATION, REVIEW AND AUDIT,

www.aicpa.org/InterestAreas/PrivateCompaniesPracticeSection/QualityServicesDelivery/KeepingUp/DownloadableDocuments/financial-statement-services-guide
.pdf.
● Home - Clear Creek.” Home - Clear Creek, www.ccisd.net/.

● “Read, Write, Discover, and Share the Books You'll Always Remember.” Storybird, storybird.com/.

● “Thank You Banner.” Best Business Template, www.soccerbbc.com/15965/thank-you-banner.html.

● “Your Audit Monitoring Visit.” Economia, ICAEW,
economia.icaew.com/-/media/corporate/files/technical/audit-and-assurance/audit-monitoring-visits.ashx?la=en.