Audits, Reviews, and Compilations

We view our role in the financial reporting process as an opportunity to provide constructive solutions for maximizing your company’s profitability and efficiency. ¬†We provide financial reporting on all three levels of assurance:

  • Audit- an intensive examination with the highest level of assurance
  • Review – some analytical procedures conducted with limited assurance
  • Compilation – based upon client information provided and used primarily for internal use.

Audits, reviews, and compilations¬ are the three general levels of financial statement services provided by CPAs. Each level provides a different amount of assurance.

  • Compilations:¬†This financial statement service provides the least amount of assurance. A CPA tasked with compilation will collect financial information and data. The data will then be put into the proper financial statement based on generally accepted accounting principles (GAAP).
  • Reviews:¬ This financial¬†statement service provides more assurance than a compilation. The CPA tasked with performing a review will provide inquiries and analytical procedures, in compliance with GAAP, to help ensure that no material modifications need to be made to the financial statements.
  • Audits:¬ This financial statement service provides the most assurance of all three levels. The CPA will perform thorough inspections, analytical procedures, testing, and observations to ensure that¬†the financial statements are free of misstatements, omissions, and are accurately presented in compliance with GAAP.

Industries we provide audits, reviews, and compilations for:

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