BMC SAAS offers highly qualified professionals having knowledge of US accounting, reporting, and auditing expertise to assist you with your auditing needs from our offices in India. Offshoring your audit under US GAAP to us will help you reduce your workload at a fraction of the cost. Our in-house staff is well-versed in US GAAP and PCAOB/AICPA audit requirements.

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Why Do You Need an Audit of Financial Statements?

Improves Credibility
An audit of your financial statements adds credibility to your reported financial position and performance. It also helps non-profits and commercial businesses bid for contracts and apply for federal or state grants.

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Legal Requirement
The Securities and Exchange Commission requires all public entities to file annual reports with audited financial statements.

 

Credit Purposes
Banks and other lenders usually require audited financial statements to assess the credibility of an entity’s performance and financial stability. These statements are often requested during the approval of initial credit facilities or loans and must be submitted annually as part of debt covenants.

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Suppliers
Suppliers may require audited financial statements before extending trade credit, especially when the requested credit amount is substantial.​

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Process of Financial Statements Audit

Audit Strategy
Independent auditors gather sufficient and appropriate audit evidence to support an opinion about the fairness of financial statements. In developing an audit strategy, auditors consider internal controls and determine whether to rely on those controls for various components of the audit.

Audit Procedure
Auditors perform a wide variety of audit procedures at different stages to gather the necessary evidence to support an independent opinion on the fairness of the financial statements.

Evaluates Results
As the audit progresses, the audit team completes its tests and evaluates the results. An audit opinion can be unqualified, qualified, a disclaimer, or adverse.

Communicates Results
The auditor communicates the results of the audit to the audit committee or governing body of the audited entity, including any internal control deficiencies noted.

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Why Choose BMC SAAS to Assist You as an Auditor of Your Financial Statements

Risk-Based Audit Approach
We have adopted a risk-based audit approach. Our work includes understanding and testing internal controls, interviewing management personnel to understand business objectives and risks, reviewing new contracts, and evaluating how business risks translate into audit risks.

Documentation and Communication
We document and test each significant business operating cycle, such as treasury, accounts receivable, revenue recognition, accounts payable, expense accruals, inventory accounting, payroll, and fixed assets. Our work involves communication with third parties such as banks, external legal counsels, and accounts receivable. We also perform inventory physical count observations and test counts.

Paperless Audit Tools
Our audit tools include paperless audit software and applications, detailed work programs to document audit procedures performed, and supporting documents such as copies of significant contracts, bank confirmations, investment balance confirmations, and legal confirmations. Based on our findings, we issue a report on whether the financial statements are free of material misstatements and prepared in accordance with relevant generally accepted accounting principles. Our risk-based approach and paperless working environment improve our efficiency, reduce audit costs, and enhance internal documentation and compliance with professional standards.

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Let BMC SAAS create your US GAAP audit reports with precision and expertise.