The audit provides the highest level of assurance regarding the accuracy of financial statements and is usually conducted when required by a third party, such as a bank or surety. An audit demands significant testing of underlying financial transactions and a study of internal control systems. It includes confirmation with outside parties, physical inspections and observations, tracing transactions to supporting documents, sampling techniques and a number of other tests.
An audit will enable us to identify weaknesses or concerns in your accounting procedures and recommend solutions for increased productivity and efficiency.
Meaningful, well-organized financial records are the foundation of a successful business. Our firm can provide double-entry bookkeeping services, including posting of financial activity, bank statement reconciliation, and general and subsidiary ledger maintenance. These services can be performed on site at your office or at our location.
Our firm library includes up-to-date versions of common bookkeeping software, such as QuickBooks Pro and Sage 50, enabling our professionals to better service your needs. In addition, we have a certified QuickBooks ProAdvisor on staff.
As your financial world expands, it is important to have an accurate picture of your assets and liabilities. A statement that details what you have and what you owe is necessary before you can clearly define the steps necessary to achieve your future goals and ensure financial security. Furthermore, banks often require such statements in order to obtain financing in a closely held business or simply for personal reasons such as a home mortgage. We can provide concise, meaningful personal financial statements with different levels of assurance.
Many businesses in their early stages of growth, as well as many older privately-held businesses, do not require audited financial statements. What they may need, however, is to present their financial data to banks, creditors, and owners in a format acceptable to the financial community. In those cases, we perform a review, compilation or financial statement preparation.
A compilation involves the presentation of management’s financial information in a specifically formatted financial report. A review goes one step further, in that we carefully analyze the most significant portions of management’s information and make inquiries as to its appropriateness in presenting the financial statements.
For those organizations which do not need the full range of services an audit would provide, either the compilation or the review become economic ways of appropriately presenting their financial data. Assisting our clients in presenting themselves with integrity and professionalism in the financial arena is our primary priority.
As accounting professionals, we are thoroughly familiar with regulations and guidelines regarding the financial presentation of your organization. Familiarity with your company and a consistency of reporting enables us to present meaningful periodic financial reports.