Our Firm provides audit, review and compilation services for small and medium-sized businesses. The Firm exercises its expertise by effectively and efficiently completing engagements as well as offering detailed advise to help clients become more efficient and profitable in their business.
An audit of your financial statements is designed to give you reasonable assurance regarding your account balances from a qualified, independent source. The audit involves planning interim procedures requiring approximately three days, the testing of the design and implementation of internal controls, the issuance of financial statements, and a management letter as required by Statement of Auditing Standards (SAS) 112 and 114. The management letter contains, if applicable, material weaknesses and significant deficiencies as defined by professional standards. It will also contain matters that are not material weaknesses and significant deficiencies, but which we feel deserve your attention. Examples include cash management, risk management, EDP processes and controls, organization structure, document security, and human resources.
A review of the financial statements consists principally of inquiries of company personnel and analytical procedures applied to financial data. It is significantly smaller in scope than an audit. You will not receive the reasonable assurance that an audit provides. A management letter is generally only issued with a review if there are conditions that warrant the attention of management. However, one can also be provided at the request of a client. Additionally, there is no requirement to send confirmations, observe inventory, or test the design and implementation of internal controls or beginning balances..
A compilation requires significantly less in analytical procedures than either an audit or a review. Depending on what you need, the statements may or may not contain disclosures (footnotes). Our basic responsibility for a compilation is to read the financial statements and put them in a GAAP format. Beyond that, we can assist in other areas based on your needs and only as requested by you
Our Firm offers its clients a highly trained and knowledgeable staff, including Sal Meach, our Senior Manager who is a QuickBooks Certified Professional Advisor. Our team provides the best service in bookkeeping to help businesses establish a solid foundation when carrying out their daily transactions. The resourceful staff offers skills that help businesses keep organized financial records to help the financial aspect of their business proceed efficiently. Through our bookkeeping services, we have been able to assist clients in presenting strong financial statements which has assisted our clients in obtaining lines of credits, mortgage loans and refinancing.
AICPA Employee Benefit Plan Audit Quality Center Member
Out Firm has been a member of the AICPA's Employee Benefit Plan Audit Quality Center (AQC) since its inception. The AQC was established to help CPAs meet the challenges of performing quality audits in this unique and complex area. The AQC provides members communication of regulatory developments, best practices guidance, and technical updates. You get an efficient, well-trained audit team when you work with us. We receive specialized training to stay current on ERISA, DOL, and IRS rules and regulations, so you get a more efficient audit. Our proactive approach helps eliminate ERISA violations and results in timely filings without surprises.