Phoenix Suns: Financial Audit Analysis

The Phoenix Suns organization will be conducting a financial audit throughout the organization. This audit will be conducted by Deloitte. Deloitte is an independent auditing firm specializing in the sport industry. This firm provides financial services in accounting, process improvement, data analytics and risk advisory (Deloitte, 2016). The financial audit will cover the records of the Phoenix Suns’ previous seven fiscal years. This audit will ensure the Phoenix Sun’s financial information is correct and ensure no discrepancies are found within the organization. The Phoenix Suns will provide honest and accurate information to Deloitte for auditing purposes. It is important the organization sincere public disclosure of all information regarding the last seven fiscal years. This information is pertinent to the accuracy of the auditor’s report. Accuracy will enable the Phoenix Suns organization to operate its business …show more content…
Job descriptions are necessary for Deloitte to understand the work needed from each employee and to help determine if a position is unnecessary. It is important that the Phoenix Suns produce accurate and detailed job descriptions of all employees to ensure Deloitte is receiving complete disclosure of how the business operates. Verifying the Phoenix Suns organization’s assets will be essential to the auditing process. The organization will set up a time for a Deloitte representative to walk through the facility to examine the organization’s physical assets. Physical assets include equipment, office supplies and inventory. Interviews will also take place during the audit. The Phoenix Suns organization will set up a time for a Deloitte representative to conduct interviews with various employees. These employees will be encouraged to be open and honest about their specific duties within the