Financial Statements & Reports

The growth and expansion of your business can often depend on obtaining the right response from potential stockholders, lending institutions or private investors. That’s where our financial statements and reports services come in. We can help you to instill confidence in all relevant third parties with accurate, reliable and professionally prepared financial statements and reports that satisfy the all levels of assurance requirements.

We provide solutions for varying levels of risk tolerance with the provision of three different levels of assurance :

Audits provide the highest possible level of assurance with thorough reviews and highly objective analysis of financial statements. Included in the audit process are information verification procedures, reviews of internal controls, transaction testing as well as communication with third parties and the issuing of a report expressing whether, based on audit findings, the financial statements audited were found to be fair, accurate and free from any material errors or misstatements. 

In cases where a compilation may not meet the level of assurance you require, a review is an ideal choice. We provide professional review services that add the carrying out of inquiry and analytical procedures to the procedures included in a compilation.

In addition to this, we issue a report upon completion of the procedure, expressing that the review has been carried out in full accordance with the professional standards required by the American Institute of Certified Public Accountants (AICPA). This report also acknowledges that a review offers less scope than an audit and that we are not aware of any material modifications required for the conformity of the financial statements to Generally Accepted Accounting Principles (GAAP) or other applicable basis of accounting. In this way, we provide you with the limited assurance not offered by a compilation. The level of assurance provided by a review is optimal when banks, trade creditors or outside investors ask for more assurance than a compilation can offer, but do not require audited statements.

Our compilation services focus on providing your management with assistance in  assembling and compiling financial information from your company’s records and presenting financial statements. In compliance with Statements on Standards for Accounting and Review Services (SSARSs), our accountants fulfill the requirements of having adequate knowledge of the industry and field that your company operates in, gathering all relevant client information and reading all financial statements. Our accountants also consider whether all financial statements are without obvious material errors and have been presented in the appropriate format.

The final step is the issuance of a report confirming that the compilation was carried out in full accordance with the requirements of Statements on Standards for Accounting and Review Services (SSARSs), without expressing a professional opinion of or assurance on, the statements.A compilation provides a basic level of financial reporting assurance that may be sufficient to meet management requirements or satisfy the needs of other parties.  For example, compilations are often required by banks as a component of their lending covenants. Unlike in the case of audits and reviews however, compilations do not require analysis or inquiries of management.

In the case that stockholders, private investors, creditors or other interested parties require a higher level of assurance, we would advise you to consider our review or audit services.

Please contact us for advice and assistance in selecting the most appropriate level of assurance services for your particular situation.