Financial Audits & Reviews

FINANCIAL STATEMENT AUDITS
Financial Statement Audits provide the highest level of assurance. Our audit work includes reviewing internal controls, assessing risk, testing sample transactions, physical inspection of inventory, and issuing a report.

Audited Financial Statements can be used to establish credibility to your financial statements or to comply with organization By-Laws, grant stipulations, state statutes or bank requirements.

FINANCIAL STATEMENT REVIEW
A Financial Statement Review is less extensive than an audit and is primarily an analytical review of your financial statements along with questioning of management about certain items within the financial statements.

A review engagement is focused on getting us to a point where we can present financial statements that don't have any noteworthy changes needed that we can see, in order to be in compliance with Generally Accepted Accounting Principles. A review is less work and less expensive than an audit, but still provides some level of assurance.

FINANCIAL STATEMENT COMPILATION
Financial Statement Compilation is presented as the "representation of management" and does not require questioning of management or any analytical procedures. We utilize accounting expertise but do not offer an opinion or any assurance on the financial statements. Compilations are sometimes required by banks or other agencies.