|
Financial Statement Reviews and Compilations |
|
|
Stockholders, creditors, and private investors often need assurance that the financial statements accurately represent the true financial position of a company. We provide two types of assurances: Review - Limited Assurance - Review engagement consists primarily of analytical procedures applied to financial statements, and inquiries made to your company's management team, with additional procedures can be performed on an as needed basis.
- A review report expresses limited assurance in the form of the statement: "We are not aware of any material modifications" for the financial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP).
- Reviewed financial statements must include all required footnotes and other disclosures.
Compilation - A presentation of information that is the "representation of management" and expresses no opinion or assurance on the statements.
- Compilations do not involve inquiries of management or analytical procedures, but rely on knowledge of accounting principles and a general understanding of the business.
|