Auditing and Accounting Services

Auditing and Accounting Services

 

Financial Audits:  An audit of financial statements is performed with the objective of expressing an opinion about whether the financial statements are fairly presented, in all material respects, in conformity with a certain basis of accounting, which is usually U.S. generally accepted accounting principles. Financial audits are conducted in accordance with auditing standards generally accepted in the USA. We perform financial audits for:

  • For-Profit Businesses
  • Non-Profit Businesses
  • Defined Contribution Plans (401(k) plans)
  • Fire Districts
  • Homeowners’ Associations

 

Financial Audits under Government Auditing Standards: These audits are similar to regular financial audits, but they are  conducted in accordance with Government Auditing Standards issued by the Comptroller General of the United States (also referred to as the Yellow Book) as well as auditing standards generally accepted in the USA.

 

Single Audits under OMB Circular A-133: These audits are required when an entity expends $750,000 or more in a year in federal awards. A single audit is separate from a financial audit.

 

Reviews of Financial Statements: A review of financial statements is performed with the objective of obtaining limited assurance that there are no material modifications that should be made to the financial statements in order for the statements to be in conformity with a certain basis of accounting, which is usually U.S. generally accepted accounting principles. A review primarily includes applying analytical procedures to financial data and making inquiries of company management. Since a review does not include as extensive procedures as an audit, we do not express an opinion on the financial statements and only provide limited assurance on the financial statements.

 

Compilations of Financial Statements: A compilation service is provided to assist management in presenting financial information in the form of financial statements. Basically, we help you prepare financial statements.  When performing a compilation, we do not provide any assurance that there are no material modifications that should be made to the financial statements.

 

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