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Proven
Expertise in Audits, Compilations, and Reviews
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As a business owner, you may be
accountable to creditors, private investors, and shareholders, all of whom are
interested in ensuring that the company’s financial statements accurately
represent the true financial position of the company.
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There are three types of CPA certified
financial statements:
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Compilations. The
first level of service is the compilation. There is no verification that the
numbers presented in the statements are accurate and the financial statements
produced are for management and third-party use.
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Reviews. More
involved than a compilation, but not as comprehensive as an audit, reviews
provide “limited assurance.” Key personnel are interviewed about the company’s
accounting policies and procedures, industry, operations, and financial
statements. A review report is issued as well.
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Audits. Audit
services are the highest level of service provided. We work closely with key
personnel to gain knowledge of internal control systems (“checks and
balances”). Verification and substantiation procedures are performed in
accordance with Generally Accepted Auditing Standards (GAAS).
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Audit, Review, or
Compilation?
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You may be wondering which one is best
for your business. The answer depends on the level of assurance or financial
accuracy that you want. For instance, you may decide a compilation is all you
need this year, but in subsequent years, you may decide that a review – or even
an audit – provides better information about your financials and enables you to
make better decisions about the future growth of your company.
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We Look Forward to Helping
Your Business Achieve Financial Success!
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Whether your business or organization
needs an audit, compilation, review – or maybe even all three – our experienced
team of CPAs, accountants, and tax professionals is here to help.
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Not sure which level of assurance your
business needs? Contact us using the form below.