Our primary goals as statutory auditors is to render an opinion on the financial statements in accordance with generally accepted auditing standards. In addition, consistent with our commitment to offer full service business advisory, we seek to add value to our attest services by effectively communicating the business implications of our audit results.

To achieve these goals, Horwath First Trust applies the following audit methodology to each of our audit engagement:

The traditional audit has focused on the bottom half of the diagram, auditing what is in the accounting records and checking the preparation of the financial statements. However, we believe our client's significant risks are at the top half of the diagram, where the actual or potential impact of important business events and issues may not be fully captured (example; competitor actions, current economic cycles, working capital requirements).

Our partners and managers are actively involved in the planning and execution of the audit, which provides client direct access to the professionals most familiar with their businesses.

Horwath First Trust's approach therefore, is based on in-depth industry and business analysis, coupled with emphasis on “Client Communication” to effectively address the client's key commercial and financial risks.