“Fieldwork on our Taichung plant took three days longer than planned because our consignment stock was poorly labelled. The team stayed late to finish the count reconciliation rather than pushing the opinion into the next filing week — that mattered more than polish.”
Annual Financial Statement AuditClient stories
What clients say about the fieldwork
These notes refer to particular engagements — inventory counts, readiness gaps, lender procedures — not generic praise.
“We were preparing for our first statutory audit after incorporating. The readiness review caught six related-party schedules that our bookkeeper had never compiled. I would have preferred clearer advance notice on how many sample vouchers they would pull, but the gaps they found were real.”
Pre-Audit Readiness Assessment“Their walk-through of our purchase-to-pay cycle showed that receiving reports were not matched before payment release. We changed the sequence before year-end and the statutory audit raised fewer purchase comments than the prior year.”
Internal Control Review“Our lender required agreed-upon procedures on inventory and receivables mid-year. The report followed the bank’s procedure list exactly, and the turnaround fit the covenant testing date we had already committed to.”
Special Purpose Audit“Communication was in plain English and Mandarin when our warehouse supervisor needed it. The management letter was shorter than last year’s from our previous firm — not because they ignored issues, but because they distinguished bookkeeping cleanup from control design.”
Annual Financial Statement AuditExtended story: first statutory audit after group restructuring
A wholesale firm in Taichung had operated under a parent’s consolidated audit for years. After a shareholding change, the Taiwan entity needed its own opinion. Ledgers were complete, but related-party schedules and inventory ownership between the old parent warehouse and the new company had never been separated.
We ran a two-week readiness assessment, then the annual audit. The longest delay was not sampling — it was waiting for the former parent to confirm consignment quantities. Once those confirmations arrived, cut-off testing closed within three days and the opinion was signed ahead of the Company Act filing window the directors had set.
The management letter focused on two design points: dual approval for intercompany journal entries, and a monthly ownership reconciliation for goods still held at third-party warehouses. Both were assigned owners before the next planning meeting.