Audit a Small Business

An accounting professional is sought to conduct a quarterly financial audit for a small local business. The purpose of this audit is to evaluate the organization's financial position for the first quarter of 2025 and provide a comprehensive analysis to its board of directors.

The selected candidate will be tasked with thoroughly examining the business's financial records and statements for the period in question. This includes reviewing income statements, balance sheets, bank statements, invoices, receipts, and any other pertinent documentation. A detailed audit of revenues, expenses, assets, liabilities and cash flows must be performed.

Upon completion of the records examination, the accountant should prepare a written report that concisely describes the entity's financial status and performance for Q1 2025. The report needs to communicate whether the business is profitable or operating at a loss thus far in the fiscal year. It should outline and assess key line items like sales, cost of goods sold, operating expenses, net income/loss, accounts receivable, accounts payable, inventory levels, cash on hand and more.

This financial audit aims to give the board clarity on the organization's current economic situation. The report will help inform their decision making and allow them to effectively plan for the remainder of 2025. The selected candidate must possess excellent analytical skills and experience conducting audits for small businesses. Strong written and verbal communication abilities are also required to present findings clearly to the boar