Financial Statement Preparation

Our team of Certified Public Accountants will provide you with the proper level of financial statement assurance to meet your business and financing needs. We provide several different levels of assurance including audit, review and compiliation.

Assurance:
Our team of Certified Public Accountants will provide you with the proper level of financial statement assurance to meet your business and financing needs. We provide several different levels of Assurance:

Compilation: The lowest level of service with respect to financial statements is a compilation engagement. When issuing compiled financial statements, we attach a report on our firm’s letterhead stating that a compilation was performed in accordance with the AICPA professional standards. In order to issue a compilation report on the financial statements we must establish and document an understanding of the services to be provided and have an understanding of the accounting principles of your entity’s industry and certain matters related to your industry. We must read the financial statements and determine if they appear to be appropriate in form and free from obvious material error. A compilation is significantly less in scope than an audit or review.
Review: In the performance of a review engagement, we accumulate review evidence to obtain a limited level of assurance that there are no material modifications that should be made to the financial statements in order for the statements to be in conformity with the applicable financial reporting framework. We design and perform review procedures based upon our understanding of your industry, knowledge of you as our client, and with an awareness of the risk of unknowingly failing to modify the review report on financial statements that are materially misstated. We perform analytical procedures to the financial statements and make inquiries of management and, when appropriate, other company personnel.  Additionally we read the financial statements to consider whether they appear to be in compliance with the applicable financial reporting framework and obtain representations from management for all financial statements and periods covered by the review report.
Audit: An Audit is the highest level of assurance, the objective of which is to express an opinion as to the fair presentation of the financial position and operating results of your company. Audits are often required by lenders, bonding companies, investors, or business owners seeking an independent opinion on their financial statements.

Assurance:
Our team of Certified Public Accountants will provide you with the proper level of financial statement assurance to meet your business and financing needs. We provide several different levels of Assurance:

Audit: An Audit is the highest level of assurance, the objective of which is to express an opinion as to the fair presentation of the financial position and operating results of your company. Audits are often required by lenders, bonding companies, investors, or business owners seeking an independent opinion on their financial statements.

Review: In the performance of a review engagement, we accumulate review evidence to obtain a limited level of assurance that there are no material modifications that should be made to the financial statements in order for the statements to be in conformity with the applicable financial reporting framework. We design and perform review procedures based upon our understanding of your industry, knowledge of you as our client, and with an awareness of the risk of unknowingly failing to modify the review report on financial statements that are materially misstated. We perform analytical procedures to the financial statements and make inquiries of management and, when appropriate, other company personnel.  Additionally we read the financial statements to consider whether they appear to be in compliance with the applicable financial reporting framework and obtain representations from management for all financial statements and periods covered by the review report.

Compilation: The lowest level of service with respect to financial statements is a compilation engagement. When issuing compiled financial statements, we attach a report on our firm’s letterhead stating that a compilation was performed in accordance with the AICPA professional standards. In order to issue a compilation report on the financial statements we must establish and document an understanding of the services to be provided and have an understanding of the accounting principles of your entity’s industry and certain matters related to your industry. We must read the financial statements and determine if they appear to be appropriate in form and free from obvious material error. A compilation is significantly less in scope than an audit or review.