We work with some of the island’s most successful private and public companies, to improve their overall financial reporting processes. Ultimately, we see our audit as more than just numbers and compliance.
Our goal is to help our clients better understand their business. We consider it our job to keep our clients informed all year long of accounting, financial and regulatory developments that may impact their business. Our approach is to first understand the business and the risks it faces and then to focus our efforts where it matters most. Our method is both effective and cost efficient.
Grant Thornton International Ltd Horizon audit approach is designed to achieve a consistent standard of audit service. The audit methodology and software are constantly reviewed to make sure they are up-to-date with the latest changes in audit standards and regulations. Horizon is designed to meet the needs of both large established and growing entrepreneurial companies.
Features of Horizon audit approach
- a partner-led service where experienced professionals are involved in all stages
- internal financial controls assessment resulting in practical advice on how they can be strengthened
- focus on understanding the important transaction cycles affecting your business
- advanced auditing techniques tailored to the way you do business, whatever the size of your company and wherever you operate
- a high quality level of service around the world enabling us to provide advice about the business operations of your company.
We follow the quality control and ethical policies that have been developed by Grant Thornton International Ltd, thus ensuring that we conform with professional standards and with the various requirements of meeting external quality reviews.
We carry out our statutory audits in accordance with the International Standards on Auditing and we report in accordance with International Financial Reporting Standards. Our qualified professionals could also help you with any special audits that you may need from time to time as well as any special projects with regards to your organisation’s system of internal controls.
Internal controls and Voyager
Grant Thornton member firms apply the Horizon methodology using a proprietary software tool, Voyager. Using Voyager, audit teams identify financial statement risks and link them to the processes and internal controls established to address those risks. This enables audit teams to tailor an audit response that is appropriate to the assessed risks. Voyager also assists audit teams in documenting, evaluating and testing of internal controls.
Grant Thornton audit teams also use IDEA, a data extraction and analysis tool, to analyse large amounts of financial data, independently verify calculations, efficiently select samples and generate confirmations. IDEA enables auditors to extract and analyse data in a matter of seconds, resulting in a more efficient audit process that is less burdensome for Grant Thornton clients.