-: So my name is Mohammed Mustafa Bande, and I'm an audit.
I'm a senior audit associate at KPMG LLP, our U.S. office.
Part of my job is performing audit procedures
to obtain reasonable assurance
that the financial statement are free
from material misstatements due to error or fraud.
It's part of getting an understanding
of what the company does as a business,
and obtaining the financials of the company,
and doing some deep-rooted work where
we scope in accounts that we think
might contain misstatements due to the significance
of the account or the nature of the account,
and make sure that each transaction has a proof behind it
so that we can be like, well,
we came to a point where we have reasonable assurance
that this account present fairly
the result that we are expecting it to have.
It really varies because each company,
they work on different year period,
some work on a fiscal year, some work on the calendar year.
So an auditor has usually two period:
the interim period and the year end.
So usually the interim period we do
from quarter one to quarter three,
where we do usually like ACCA work,
which is working on the company's controls, right?
Making sure that the controls
that the company has in place are operating effectively.
And that will determine the amount of work
that we have to do at the end,
which is the quarter four,
which will be our substantive work,
which will have us really dive into each account
and see how the company is doing the work at the end.
So, how do we do the work to determine misstatement?
It's a combination of before, the control work,
and the substantive work at the end.
So the substantive work here will be now
diving into each account and doing some testing.