Audit & Accounting Services
The foundation of our practice are the preparation, presentation, and analysis of client financial statements, as well as attesting to financial statements prepared by the client. Our financial statement audit and accounting services approach encompasses the following:
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- Audits, Reviews, and Compilations
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- Deliverables, including substantive management letters with business analysis and solutions contributing to better business decisions and administrative practices
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- Accessibility to our engagement team at all times by use of email, voicemail and wireless communications, responsiveness to the needs of our clients throughout the year.
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- Technology driven services enabling remote file access, paperless environment, secure client portal, industry specific electronic programs
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- Full range of audit, accounting, tax, and application software programs, during all engagements, including fieldwork
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- Utilization of industry-specific software programs
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- Highly objective and management-oriented approach
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- Maintaining close and constructive relationships
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- Timely review and reporting of information to management
- Tax training specifically geared for field audit staff to recognize tax savings opportunities (e.g., research & development, ETI, LIFO)
Industry specialization:
- Closely-held businesses
- Manufacturing (including off-shore/international operations)
- Not-for-Profits
- Professional Services
- Construction & Real Estate
- Educational Institutions
- Healthcare
Audit – Highest Level of Assurance
An audit provides the highest level of assurance. An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice.
Our work includes a review of internal controls, testing of selected transactions, and communication with third parties. Based on our findings, we issue a report on whether the financial statements are fairly stated and free of material misstatements
We also perform physical inspections by observing your inventory counting methods and perform test counts. We document and test each operating cycle, including sales and cash receipts, expenses and cash disbursements, and payroll. Our audit papers include a detailed work program to document the examinations and testing performed, as well as the client’s supporting work papers.
Compilation – Lowest Level of Assurance
In compiling financial statements for a client, we present information that is the “representation of management” and expresses no opinion or assurance on the statements. Compilations don’t require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.
Banks often require compilations from an independent CPA as part of their lending covenants.