Audits – Reviews – Compilations
Your stockholders, creditors, or private investors have different levels of risk and often need assurance that the financial statements accurately represent the true position of a company. We provide three levels of assurance to meet your needs. Each type suits specific circumstances, as well as budgetary needs.
Audit – Highest Level of Assurance – An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice. Our work includes a review of internal controls, testing of selected transactions and communication with third parties. Based on our findings, we issue a report on whether the financial statements are fairly stated and free of material misstatements.
Review – Limited Assurance – A review consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company’s management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures. Based on our findings, a review report will express limited assurance on the financial statements
Compilation – Lowest Level of Assurance – These do not require inquiries of management or analytical procedures. We rely on our knowledge of accounting principles and a general understanding of your business. Information will be presented as “representation of management” and expresses no opinion or assurance on the statements.
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