Our services
The right reporting engagement starts with understanding who will use your financial statements and what level of assurance they require.
How we can help
A lender, governing board, grantor or other stakeholder may ask for financial statements prepared under a specific engagement. We help you understand that request, organize the supporting information and agree on the work before the engagement begins.
An audit includes risk assessment, evaluation of evidence and other procedures designed to obtain reasonable assurance that financial statements are free from material misstatement. The auditor expresses an opinion on the statements. Reasonable assurance is a high level of assurance, rather than an absolute guarantee.
A review primarily uses inquiries and analytical procedures to provide limited assurance. It is narrower in scope than an audit and may fit a stakeholder’s reporting requirement when an audit is not required.
A compilation presents financial information supplied by management in financial statement form. The accountant does not provide assurance on those statements. It should not be described as an audit or a review.
The engagement identifies particular procedures to perform and reports the findings from that work. It does not provide an audit opinion or an overall assurance conclusion. The procedures and intended purpose need to be clearly understood.
For a business, the reporting need may arise from a financing request, ownership transition or contractual requirement. For a nonprofit, it may come from a board, funding source or grant agreement. We discuss the applicable requirements and the organization’s records before recommending an engagement; one level of service does not automatically substitute for another.
We begin with the reporting purpose and intended users, confirm the engagement terms, request records, carry out the agreed work and discuss the resulting report. Management remains responsible for its financial statements and underlying records. Raising missing records or timing concerns early helps us establish a practical schedule.
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