There are a variety of reasons why your business, non-profit organization, or governmental entity may need audit, review, or compilation services. Creditors may require you to provide audited financial data as a part of a loan agreement. Stockholders may want a certain level of assurance that financial information provided to them is accurate and complete. Most governmental entities are subject to audit as a result of statutory requirements. In addition, financial institutions may require your business to obtain a compilation from an independent CPA as part of a lending agreement.
There are varying levels of assurance that we can provide your entity:
An audit provides the highest level of assurance. An audit is an official examination and verification of accounts and records that support a set of financial statements.
A review provides a limited amount of assurance that is less than an audit, but more than a compilation. A review engagement consists primarily of analytical procedures applied to financial information along with inquiries of management. A review does not provide the level of assurance that an audit will provide.
When compiling financial statements for your entity we will present information that is the representation of management. However, we will not express an opinion on or provide any form of assurance on the financial statements.
In certain situations, it may be possible to provide the level of assurance needed without the cost of a full audit. We can perform agreed upon procedures or other attest services that address your specific concerns and provide you with the answers you need without performing an audit.
Please call if you have questions about which type of report is right for you.