At Grant Thornton we use a single audit methodology (LEAP) across our global network. This means that our clients get a consistent, high-quality approach wherever they are.
The LEAP audit methodology is aligned with the International Standards on Auditing (ISA) and directs our efforts to the financial statement audit areas that represent the greatest risk.
LEAP has integrated quality control processes, which include policies and procedures that ensure the involvement of adequate and timely quality control.
We are not focused on automatic verification, but our focus is on ensuring compliance and helping you improve the way you do business, including internal systems and controls, risk management, and establishing appropriate accounting policies.
We apply a five-step method that helps us quickly understand your business and deliver results rapidly.
Step one: Planning
Our teams of experts work to understand your operations, internal controls and information systems. Then, we put together an audit schedule that meets your needs.
Step two: Risk assessment
Next, we use this knowledge to assess the risk of financial reporting error or fraud, particularly in business-critical areas. If the conditions are met, we will also carry out a preliminary review of some of the balances involved, to allow time for the investigation and complete resolution.
The result: a tailor-made audit strategy, which is structured around your company or organization.
Step three: Internal controls evaluation
Strong internal controls are the key to a stronger organization. Whenever deemed appropriate, we will test your internal controls and suggest improvements.
Step four: Auditing tests
Our teams use sophisticated tools, including data analysis software, to efficiently assess your balances and transactions and improve your operations.
Step five: Conclusion and reporting
In this step we evaluate the results of our work and conclude on the findings, and additional quality control is applied to ensure the integrity and accuracy of our work. We finish the audit process with an audit report and -depending on the results of the work- with recommendations for internal control improvements report.
Our cutting-edge audit technology
We use proven and innovative technology as part of our audit process and apply a global audit methodology through an integrated set of software tools.