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Compilation, Review, and Audit Services
Our firm provides professional compilation, review, and audit services
to businesses of all sizes. We can quickly compile your financial records
into meaningful GAAP-compliant financial statements, offer limited-scope
review testing, and can deliver complete audit attestation. Our
services include:
Auditing Services
The audit provides a professional opinion upon
completion of the engagement. We view our role in the reporting process
as an opportunity to provide constructive solutions for maximizing your
company's profitability and efficiency. We also provide meaningful recommendations
for improvement of your operations and enhancing your internal controls.
Our recommendations are made with the purpose of generating savings for
your company and enhancing your profitability.
Review Engagements
The purpose of a review engagement is to prepare and review financial
statements to determine whether they are credible. If after reviewing
the financial statements we are satisfied that they are not misleading,
an accountant's standard review report will be issued. Where an audit
is not required, reviews provide limited assurance that the financial
information of the company conforms to generally accepted accounting p
rinciples (GAAP).
In compiling this review, our accountants will need to direct inquiries
to the people in the company who are responsible for the financial and
accounting matters. Although specific inquiries are tailored to each individual
client, we use our judgement to determine the extent of the inquiries.
These inquiries basically relate to the accounting practices, policies
and principles used by the company, and the procedures for recording and
gathering financial information.
During review engagements, an alytical procedures are applied to the financial
information of the company. The purpose of these analytical procedures
is to identify balances or relationships that appear unusual. In the event
of unusual patterns, then further inquiries will be made to identify the
cause of these patterns.
Compilation Engagements
The objective of a compilation engagement
is to compile unaudited financial information into financial statements,
schedules or reports based on information supplied by the client. A compilation
engagement may be appropriate in a situation wherein financial statements
are prepared for an interim period for example quarterly,for the exclusive
use of the management team of a company,owners or for income tax purposes.
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