In addition to financial statement audits, reviews and compilations, we have significant experience in attestation services involving compliance, policies, procedures or internal controls. We’ll explain the advantages and benefits of each service and tailor them to your specific needs in the most cost efficient manner possible.
Audits offer the highest level of assurance to creditors, investors and other third parties, and include in-depth examination and confirmation of account balances and selected transactions.
Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify items requiring further analysis. Though they provide less assurance, often financial institutions, or others requiring annual opinions from a CPA, will accept a review rather than an audit, which can save you significantly.
Compilations are based upon information provided by a company’s management. A CPA firm cannot offer assurance on the balances presented in a compilation report, but some adjustment to accounting records may be necessary in order to compile a set of complete financial statements.
Performance audits focus on performance against specified criteria in the areas of operations, compliance or reporting, the effectiveness of processes or internal controls, and a wide variety of risks or other areas of interest.
Examinations can be financial or non-financial in nature, and often include a compliance aspect. They are similar to an audit in terms of the level of assurance provided, but are used when the subject matter is something other than a complete set of financial statements.
Agreed-upon procedures (AUP) offer the most flexibility and can be tailored to your specific needs. Whereas the other services listed rely on the CPA to determine the procedures required and only provide a summary level report, AUP allow you to specify exactly what procedures will be performed and our report will provide results for each individual procedure. As with examinations, AUP can be financial or non-financial in nature.