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Auditing Solutions

Our audit philosophy is based on integrity, objectivity, independence and strict adherence to all professional standards, regulations and laws. We have extensive auditing experience in many industries garnered from our partners' tenure with international public accounting firms and Fortune 500 public companies (partner profiles). The objective of an audit is the expression of an opinion about whether your financial statements are fairly presented, in all material aspects, in conformity with generally accepted accounting principles. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. However, we also strive to provide useful insight into process improvements that can assist the organization in becoming more effective going forward.

You may choose to obtain an audit even if you are not legally required to do so. An audit can be an effective tool to ensure that your financial statements are being presented in accordance with generally accepted accounting principles and/or your internal controls underlying your financial data is sufficient to mitigate the risks of material misstatement in your accounting records. Audits are often required in the following instances:

  • Compliance with regulatory requirements and/or Securities and Exchange Commission reporting commensurate with initial public offerings,
  • Assurance for organization board members or other parties with a vested interest in the results of the business to provide effective oversight of the accuracy of the financial statements,
  • Assurance for financial institutions and/or insurance companies as a condition of lending or bonding agreements,
  • Preparation for due diligence from potential acquirer,
  • Oversight of the financial records and related internal controls as the organization grows, and
  • Compliance with ERISA guidelines for employee benefit plans (audit requirements for benefit plans).

In addition to financial statement audits, we also provide the following services:

Reviews

A review consists primarily of inquiries of company personnel and analytical procedures applied to financial data. A review does not require obtaining an understanding of internal controls or testing accounting records and responses to inquiries by reviewing supporting documentation; however, such procedures may be applied if we require further understanding of your business in order to complete our procedures. It is substantially less in scope than an audit in accordance with generally accepted auditing standards, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion. The purpose of a review is to express limited assurance that there are no material modifications that should be made to the financial statements in order for them to be in conformity with GAAP.

Compilations

A compilation consists solely of assembling financial statements from client information in accordance with professional standards. No opinion is expressed upon the underlying financial information for a compilation.

 

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