Periodic financial reporting is a prime responsibility of most organizations, and along with tax preparation, often forms the foundation of most of our client relationships. Financial reports provide owners, management, lenders, and other key parties with important information with which to evaluate performance and make sound decisions.
We can provide specific services to assist client organizations in their financial reporting responsibilities and provide assurance as to the fairness of the financial statement presentation. The level of service varies according to the needs of the client or third parties, such as financial institutions.
We have extensive experience conducting audits, reviews and compilations based on standards established by the American Institute of Certified Public Accountants (AICPA).
Audited financial statements provide the highest degree of assurance by the Firm's expression of its professional opinion on the fairness of the financial statement presentation in conformity with generally accepted accounting principles. Audits are conducted in accordance with generally accepted auditing standards promulgated by the AICPA and industry or organizational audit guides.
A review provides limited assurances that there are no material modifications which need to be made to the financial statements in order for them to be in conformity with generally accepted accounting principles.
Compilations "without disclosure" are performed under the auspices of our Small Business Services team and generally involve the preparation of the "books and records" from basic client documents.
In addition to the types of services described above, we are often asked to perform more specialized auditing and accounting services under the requirements of outside third parties.
These engagements can take many forms, including:
Audits Conducted Under the Requirements of the Single Audit Act
Audits of Student Financial Aid Programs
Contract and Compliance Audits
Special Field or Investigative Audits
Agreed Upon Procedures
Forensic Accounting Services
Internal Control Reviews
Employee Benefit Plan Audits
For further information please contact Edith L. Yates, CPA.