Definition of an Audit
An examination of financial and non-financial information to determine if that information meets a set standard.
Types of Audits
This is an examination of the Information Technology Infrastructure. It is a check to see if data is being stored properly, if cyber security is sufficient, etc.
This is an examination of the information that accountants prepare. The purpose is to make sure the information is accurate.
This is an examination of the performance of a system. The purpose is to make sure the system is running effectively and efficiently.
This is an examination of the quality of the product produced. The purpose is to make sure the product is of satisfactory quality.
This is an examination of the project lifecycle. The purpose is to make sure the project is run in a certain way.
This is an examination of the amount of energy being used. The purpose is to minimize the energy input without negatively affecting productivity.
This is an examination of the operations being performed. The purpose is to check if objectives are being reached by the operations being done.
This is an examination of the company and its components. The purpose is to find fraud, missing money, etc.
Investment Fee Structure
|Rate||Assets Under Management|
|1.00%||Between $125,000 and $750,000|
|.85%||Between $750,000 and $1,250,000|
|.80%||Between $1,250,000 and $1,750,000|
|.75%||Between $1,750,000 and $2,500,000|
|.70%||Between $2,500,000 and $3,250,000|
|.65%||Between $3,250,000 and $4,250,000|
A single rate is applied to the entire account. So a person with a $750,000.01 account pays less than a person with a $750,000 account. I will waive personal tax return fees for accounts over $1 million. For accounts that are above $5,250,000, we’ll need to discuss a custom rate.
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Questions for the comments
Did my explanation make sense? Do you agree or disagree with what I said?