Accounting & Auditing Services
All our compliance work includes an insightful analysis of your firm’s profitability. There are three levels of financial reporting. We can help you select the most cost-effective to meet your needs.
The Compilation: As the lowest level of report, the compilation may be adequate for the closely held or family business that does not distribute financials to outsiders but wants an annual accounting for planning and evaluation purposes.
The Review: For these mid-level reports, the outside CPA makes inquiries of management following an analytic review of the firm’s financial results. The review stops short of outside, independent confirmation of transactions. Many banks now accept the review in lieu of the more costly audit.
The Audit: The audit is a detailed review of the business. The auditor makes inquiries of management, evaluates systems and control adequacies, and performs independent verifications of transactions. The audit is most frequently implemented when required by a bank or financing company. However, the audit can also be useful for an absentee owner or multi-owned business.