Prepare for Your Overhead Audit
by Learning about Our Superior Services

Get ready for your overhead audit by turning to 5E Solutions. Our accounting services include going over the deliverables and scope aspects of your project to ensure your complete understanding. Contact us today to discuss how your business can profit from an overhead audit.

Deliverables

We consider the overhead audit a process of critical thinking, analysis, and careful evaluation. By the end of your audit, we will know the general areas, specific accounts, or detailed transactions that need more management focus and/or improved internal controls in order to improve your organization's performance in terms of the 5Es.

Some changes will be evolutionary improvements, such as a 5 to 10% increase in cash flow or a tweak of an already strong internal control; some, however, will be revolutionary in nature, a complete revamping of a process, changing of the business paradigm with substantial cash flow improvement. We are almost certain that we will find improvements in 'esoteric' areas that management was previously unaware of.

Your Project Scope

The scope will be both "review" and "compliance" oriented; weighting of the former or the latter will differ by category and will depend on the findings produced via the Preparation and Preliminary Stages. Findings will generally be described in terms of 5 components: 

       1) Condition                2) Criteria                  3) Effect                 4) Cause                 5) Recommendation 

Audit Plan

Strategic testing is at the heart of an overhead audit. It provides a detailed understanding of how well the organizational controls function and if your organization is meeting its objectives. Each audit includes an examination of records and assets, documents, interviews, observation, documentation of operations, review of the accounting for material, and other procedures. There are essentially 3 dimensions to the nature of the overhead audit: 

 

 1) Reviewing the operations and the various controls designed to make the operations function via the 5Es,
     namely Effectiveness, Efficiency, Economy, Ethics, and Environmental concerns
 2) Testing the operations to determine if they are in compliance with the designed control system
 3) Evaluating the design of the control system and the effect of either compliance or non-compliance with the controls

 

Be an eco-conscious company by calling us today at (888) 637-9994
for overhead auditing services.