Audits, Reviews and Compilations

An audit is the highest level of assurance provided. It is typically appropriate and often required when seeking high levels of financing or outside investors, or when selling a business. We will obtain an understanding of your business’s internal control, assess fraud risk, and corroborate the amounts and disclosures included in your financial statements by obtaining audit evidence through inquiry, physical inspection, observation, third-party confirmations, examination, analytical procedures, and other procedures.

We will issue a formal report that expresses an opinion on whether the financial statements are presented fairly, in all material aspects, in accordance with the applicable financial reporting framework.

A review can be a cost-effective way for a growing business to meet third-party requirements. It can also be useful when you are seeking greater confidence in your financial statements for the purpose of evaluating results and making key business decisions. A review is narrower in scope than an audit, provides limited assurance over accuracy, and is designed specifically for the client’s business and financial reporting framework.

We will issue a formal report that includes a conclusion as to whether we are aware of any material modifications that should be made to the financial statements in order for them to be in accordance with the applicable financial reporting framework.

Compilations are intended for use by lenders and other outside parties who may appreciate your business’s association with a CPA without requiring a level of assurance on the accuracy of financial statements. The financial statements are produced in conformance with the framework determined by management, and no assurance is provided.

We will issue an independent report stating that we did not review or audit the financial statements, and accordingly do not express an opinion, a conclusion or provide any assurance on them.