Audit and Assurance

Audit and Assurance Services

Our role in the financial reporting process is to provide constructive solutions to maximize your company's profitability and efficiency. We assist you in the preparation of your financial statements in accordance with professional standards. Financial reporting is provided on three (3) levels of assurance, including:

Audit Financial audits exist to add credibility to the implied assertion by an organization's management that its financial statements fairly represent the organization's position and performance to the firm's stakeholders (interested parties). The principal stakeholders of a company are typically its shareholders, but other parties such as tax authorities, banks, regulators, suppliers, customers and employees may also have an interest in ensuring that the financial statements are accurate. We are committed to the highest standards in performing quality audits. Our firm is a voluntary member of the American Institute of Certified Public Accountants (AICPA). Our audits are performed by qualified staff accountants under the direction and supervision of the firm's partners.

Review Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to a client's statements, and various inquiries we make of your company's management team. A review report expresses limited assurance in the form of the statement: “We are not aware of any material modifications" for the financial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP). Reviewed financial statements must include all required footnotes and other disclosures. A review is often acceptable for lenders, investors, and management and serves as a cost effective means of obtaining a reliable snapshot of your company's performance.

Compilation In compiling financial statements for your business, we present information that is the representation of management and expresses no opinion or assurance on the statements. Compilations do not require inquiries of management or analytical procedures. Instead, we are engaged to obtain a general understanding of the nature of the entity's business transactions, the form of its accounting records, the stated qualifications of its accounting personnel, the accounting basis on which the financial statements are presented, and the form and content of the financial statements. Banks often require compilations from an independent CPA as part of their lending covenants.