Our Assurance and Accounting Services consist of Assurance (Audit and Review) Engagements, Compilation “Notice to Reader” Engagements and Special Reports
Audit Engagements
An audit report contains an expression of opinion on whether the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework. An audit is generally performed when outside third parties (banks, creditors, potential purchasers and outside investors) require an auditor’s opinion on the financial statements.
Review Engagements
Third parties, such as banks, shareholders and potential investors or creditors may request a review of your financial statements. The scope of a review is less than an audit, and accordingly the level of assurance of the financial statements is lower than an audit. During our review, we will assess whether the information being reported on appears to be plausible, primarily through inquiry, analytical procedures and discussion with you.
Compilation Engagements
(“Notice to Reader”)
Some organizations do not require financial statements to contain all the disclosures normally required for general purpose use, nor do they need the assurance that can be provided by an audit or a review engagement. We compile financial statements using information supplied by management or the owner. Notice to Reader financial statements are often prepared to accompany a tax return and normally do not contain note disclosure.
Some organizations do not require financial statements to contain all the disclosures normally required for general purpose use, nor do they need the assurance that can be provided by an audit or a review engagement. We compile financial statements using information supplied by management or the owner. Notice to Reader financial statements are often prepared to accompany a tax return and normally do not contain note disclosure.
Special Audit Reports
When an organization requires assurance on information other than its financial statements, we will perform agreed-upon procedures and issue a special report. This helps intended users assess the organization’s compliance with statutes, regulations and agreements.