Field Audit

Reporting

Field audits for accounts receivable assurance are conducted to verify the accuracy and completeness of recorded receivables. These audits ensure that the amounts owed to the organization match the financial records, identify potential discrepancies, and enhance the credibility of the organization's financial statements.

Asset and inventory verification field audits validate the existence, condition, and value of tangible assets and inventory items. By ensuring alignment between recorded and physical assets, these audits prevent overstatement or understatement of assets, reduce the risk of fraud, and enhance financial accuracy.

Field audits for loan integrity monitoring help ensure that borrowers are using loan proceeds in compliance with agreed-upon terms. These audits verify proper utilization of funds and adherence to repayment schedules, reducing the risk of default and protecting the lender's interests.

Yes, field audits are designed to identify irregularities and potential fraud within accounts receivable, assets, inventory, and loans. By physically verifying assets, inspecting inventory, and monitoring loan usage, auditors can detect inconsistencies, unauthorized transactions, or non-compliance with terms, helping prevent fraudulent activities.

At BizWorth, we place utmost importance on confidentiality and unbiased field audits as essential elements of our professional practices. Our commitment to ethical standards ensures strict confidentiality of all client information and details. To ensure top-notch data security, we employ our secure Data Collection Portal with bank-grade security measures. All data is encrypted at rest using AES-1256 and managed with sophisticated encryption keys.

Our data security features include certified data centers located in North America, providing data redundancy and reliability. Secure Document Transfers with 128-bit SSL/TLS encryption and robust AES 256 encryption for documents further strengthen our data protection measures. Our platform receives frequent audits by independent third-party auditors to ensure the integrity and safety of our data practices.

At BizWorth, our field auditors are employees of the company and operate independently, free from any conflicts of interest, to provide impartial and objective audits. With our focus on confidentiality, unbiased appraisals, and robust data security, you can trust BizWorth to handle your field audit needs with the highest level of professionalism and integrity.

The cost of our field audit services depends on several factors, including the volume of accounts, inventory size and variety and asset diversity and any required travel. We provide online quotes and convenient ordering. Get started with a custom price quote >Field Audit Custom Quote

The turnaround time for our field audit reports varies based on the scope and complexity of the audit assignment. In most cases, you can expect to receive the appraisal report within 2 weeks after the audit and data collection process is completed. Our priority is to deliver timely and reliable field audits without compromising the quality of our work.

If you have any further questions or need additional information about our field audit services, please don't hesitate to contact us. We are dedicated to providing top-notch customer service and assisting you with all your field audit needs.

At BizWorth, the responsibility for preparing the field audit report falls upon our team of highly qualified professionals. Our reports are meticulously prepared by experts who hold NACVA-certified Master of Financial Forensics credentials, ensuring a comprehensive and accurate analysis of the audit findings. Our financial analysts, equipped with degrees in business, accounting or finance, work diligently to compile, analyze, and interpret the audit data, translating it into insightful and actionable information. This ensures that our field audit reports are not only thorough but also aligned with industry best practices and regulatory standards.