ASSURANCE SERVICES

 

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Audit Services

An audit provides the highest level of assurance on the financial statements.  

 

An audit requires obtaining an understanding of your business's internal control and assessing fraud risk.  The audit report expresses an opinion as to whether the financial statements are presented fairly, in all material aspects, in accordance with the applicable financial reporting framework.  The auditor is also required to report to you any significant deficiencies or material weaknesses in your system of internal control that are identified during the audit.

 

An audit allows you to:

  • Satisfy stakeholders such as employees, customers, suppliers and pressure groups, as well as the investing community, as to the credibility of published information.
  • Comply with banking covenants.
  • Help deter and detect material fraud and error.
  • Facilitate the purchase and sale of businesses.

 

 

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Review Services

This service provides limited assurance on the financial statements. 

 

Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company's management team.  A review report is attached to the financial statements that includes a conclusion as to whether, based on the review, we are aware of any material modifications that should be made to the financial statements in order for them to be in accordance with the applicable financial reporting framework.

andrew-neel-cckf4TsHAuw-unsplash (1)Compilation Services

This service consists of "compiling" the financial information that is the "representation of management." A compilation report is attached to the financial statements expressing no opinion or assurance on the statements.

 

Compilations do not require inquiries of management or analytical procedures.  Instead, we rely on our knowledge of accounting principles and a general understanding of your business.  

Which report should you use?

 

Each type of financial statement report may suit specific circumstances, depending on requirements from your client's bank or other parties, as well as meet budgetary needs. 

 

Understanding each report's unique strengths and weaknesses can help you choose the most appropriate one.  Please contact us if you have questions about which type of report is right for you.

 

TAX SERVICES

 

 

Tax Planning

We will work with you throughout the year in coming up with tax saving strategies.  We will look at your current organizational structure to see if it is the most advantageous.

 

Business Tax Preparation

As a business owner, you are busy developing new products or services and making sure your business runs smoothly.  We will work with you and our affiliated CPA firm to prepare and file your taxes.  As your trusted advisor, we make sure you stay on top of your tax obligations and avoid penalties and fees.

 

Individual Tax Preparation

We will evaluate your individual tax situation and guide you through any tax challenges that develop.  Our goal is to minimize your tax liability so that you can keep more of your hard-earned money.  We will work with you to develop tax planning strategies that reflect individual financial goals.