Audit and Assurance Services

Per the AICPA, “the audit is the highest level of assurance service that a CPA performs and is intended to provide a user comfort on the accuracy of financial statements. The CPA performs procedures in order to obtain “reasonable assurance” (defined as a high but not absolute level of assurance) about whether the financial statements are free

from material misstatement.” Audits provide you with the highest level of assurance. During an audit, we perform an in-depth examination of the company’s systems, internal controls, and records and financial statements.

Reviews are the median between a compilation service and an audit. Reviews are designed to provide limited assurance that the financial statements are fairly presented in accordance with generally accepted accounting principles. 

A review entails making inquiries concerning financial, operating and contractual information, applying analytical procedures and having discussions with appropriate officials of the business.  A review can be used by management or third parties, and is generally considered more useful than a compilation service, but not as useful or beneficial as an audit.

We rely on the information provided by our clients to present them with financial statement information without expressing an opinion or providing any other form of assurance. Limited in their scope, compilations are primarily for internal use and may have limited benefit to third party users.