accordance with professional standards, we offer
three levels of accounting and audit services that
encompass varying levels of our involvement with
client financial statements. The three levels of
service are as follows:
Financial Statements: This service involves
the basic preparation of financial statements
using financial information provided by the client.
Compilations are appropriate when business owners
or management need help to prepare their financial
statements and there is no external requirement
for reviewed or audited financial statements to
be provided to a third party or a regulatory agency.
Compilations provide no assurance as to whether
material changes are necessary for the financial
statements to be in conformity with generally
accepted accounting principles. Footnote disclosures
and cash flow information are optional and are
Financial Statements: In conjunction with
this service, the CPA makes inquiries of management
and performs analytical procedures to determine
whether the financial statements appear appropriate
for presentation without material modification.
Reviews are not as extensive as an independent
audit and provide only limited assurance that
the financial statements are free of material
misstatement. Complete footnote disclosures and
cash flow information are required. Essentially,
a review is designed to determine whether the
financial statements "make sense" without
conducting more comprehensive procedures.
Financial Statements: As part of an independent
audit, the CPA examines and tests the financial
statements by confirming selected balances with
outside parties, completing physical inspections
and observations, and testing selected transactions
by examining supporting documents. An audit provides
the highest level of assurance and includes the
CPA's opinion as to whether the financial statements
"present fairly in all material respects"
the entity's financial position and results of
operations in conformity with generally accepted
accounting principles. An audit is planned and
performed with an attitude of professional skepticism;
that is, the auditor designs procedures to provide
"reasonable assurance" that significant
errors and fraud are detected. An audit does not,
however, provide a guarantee of accuracy and the
ultimate responsibility for the financial statements
remains with the business owner and management.
In addition to the above, we provide the following
Accounting Services: Partial or complete
"outsourcing" of the accounting and/or
office functions of new or growing businesses.
Audit Services: Original implementation
of an internal audit function or enhancement of
an existing internal audit department's program.
contact us to request
more information about the services we provide.