Audit & FS
Audit & Financial Statements
Reports that hold up. Numbers you can trust.
Financial statements are more than just compliance documents. They show the financial condition, performance, and credibility of a business. At IGO Accounting Services, we assist businesses in preparing financial statements, supporting schedules, year-end reports, and audit requirements.
We help make the financial reporting process more organized, understandable, and ready for submission to banks, investors, government agencies, and regulatory offices.
What's Covered
Sub-services included in this category.
External Audit Service
Independent review of financial records, internal controls, and compliance — culminating in an audit report with findings and recommendations.
What's included
- Comprehensive review of financial records, transactions and reports
- Inventory verification
- Examination of internal controls, compliance with accounting standards, and financial policies
- Verification of balances for cash, receivables, payables, inventory, fixed assets, and equity accounts
- Assessment of risk areas and recommendations for process improvement
- Preparation of Internal Audit Report with findings, observations, and corrective action plans
Internal Audit — AP & AR
Targeted review of your Accounts Payable and Accounts Receivable processes to find errors, leakage, and improvement opportunities.
What's included
- Review of Accounts Payable transactions for accuracy, proper authorization, and policy compliance
- Audit of Accounts Receivable records, including aging analysis, credit policies, and collection practices
- Verification of supporting documents (purchase orders, invoices, receipts, payment records)
- Identification of discrepancies, duplicate payments, unrecorded liabilities, and uncollected receivables
- Detailed audit report with findings, risk areas, and actionable recommendations
BIR Letter of Authority (LOA) Response
Professional handling of BIR audit notices, open cases, and compliance requirements — so you don't face them alone.
What's included
- Monitoring and processing of BIR Open Cases, including validation of tax return filings and identification of discrepancies
- Assistance in responding to a BIR-issued Letter of Authority (LOA), including gathering supporting documents, audit preparation, and representation coordination
- Execution of all necessary steps for resolution and compliance related to LOA and open case matters with the BIR
Who Needs This Service
Built for businesses like yours.
If any of these describe your situation, we can help.
Corporations required to submit financial statements
Businesses preparing for annual tax filing
Companies needing audited financial statements
Businesses applying for loans, accreditation, or government requirements
Companies that need year-end closing assistance
Business owners who want to understand their financial performance
Businesses preparing reports for SEC, BIR, banks, or investors
Common Challenges
We've seen these problems before — and we know how to solve them.
Difficulty preparing complete financial statements
Lack of supporting schedules for audit or filing
Disorganized year-end accounting records
Problems reconciling accounts before financial reporting
Delays in AFS preparation and submission
Business owners not understanding their financial position
Stress during audit season and annual filing deadlines
FAQs
Common questions about Audit & FS.
What are financial statements used for?
Financial statements show the financial performance and position of the business. They are used for tax filing, audit, bank loans, investor review, SEC submission, and management decision-making.
What is included in financial statements?
Financial statements usually include the income statement, balance sheet or statement of financial position, cash flow statement, statement of changes in equity, and notes to financial statements.
Can IGO Accounting Services help prepare documents for audit?
Yes. We can assist with financial statement preparation, supporting schedules, account reconciliation, and audit requirements to make the process more organized and efficient.
I received a Letter of Authority from the BIR. What do I do?
Don't panic. A Letter of Authority means BIR is initiating an audit, and you have rights and procedures to follow. Contact us as soon as possible — we'll help you respond properly, prepare the required documents, and coordinate the audit process to protect your business.
Ready to get started with Audit & FS?
Get a custom proposal tailored to your business. We respond within 1 business day.