Services -- Audit, Review and Compilation
The Firm performs regular and special audits of financial statements and other reports in accordance with generally accepted auditing standards. The main purpose of these audits is to report on the fair presentation of the financial position and results of operations in accordance with generally accepted accounting principles. In connection with all our audits, we prepare a management letter. This report may contain recommendations relating to compliance with local, state and federal laws, internal controls, safeguards of assets, accounting practices, policies, systems procedures and other related matters.
Reportable conditions in internal control or other significant items are reported as noted during the performance of the examination to allow prompt action to be taken, when necessary or desirable.
The Firm also prepares and assists clients in the preparation of unaudited financial statements, known as compilations and reviews, in accordance with standards established by the American Institute of Certified Public Accountants. These types of reports are normally required by lending institutions or other entities for certain circumstances which do not require audited financial statements.