Assurance services are professional services, typically provided by CPAs, to provide adequate information to make decisions about financial transactions.
In many cases shareholders, board members, and executives are required to make decisions that will have profound effects—negative or positive—on their company and shareholders. All too often though, they lack the in-depth knowledge required to make such important decisions. Such decisions usually involve many complex technical components. In order to know that the decisions they’re making really are in the best interests of their company and shareholders, they need professional advice.
This is where we come in.
As a member of the American Institute of CPAs, the Center for Public Audit Firms, and the Private Companies Practice Section of the AICPA, we conduct our engagements in accordance with the highest standards and guidance delineated by each of these groups.
The execution of all our assurance engagements is done in accordance with audit standards and the generally accepted accounting principles (GAAP) of the United States of America.
Primary Assurance Services
Our assurance engagements include the following:
- Audits – Audits are undertaken to test the financial statement of a company, governmental unit, employee benefit plan, or organization in order to provide limited assurance that such statements are being presented in accordance with GAAP.
- Reviews – Reviews are undertaken to test the financial statements of a company or organization to give negative assurance regarding whether they are being presented in accordance with GAAP.
- Compilations – Compilations involve taking a company’s or organization’s internal financial information and presenting it in the form of financial statements without any assurance that they are being presented in accordance with GAAP.
The level of assurance required is determined by individual circumstances as well as external any reporting requirements imposed by regulators and third parties. We have substantial experience in assurance, including work with governmental units, corporations, unions, and other organizations.
Additional Assurance Services
We also provide these additional tailored assurance engagements:
- Financial audits
- Operational audits
- Fraud audits and forensic examinations
- Employee benefit audits
- Acquisition audits/due diligence reviews
- Internal control reviews
- Compliance audits (in accordance with regulatory requirements)
- Compliance audits involving lender agreements, leasing agreements, cost certifications and other commercial arrangements
Each of these audits is tailored to meet the specific requirements of each client, as well as the regulators or third parties involved. We understand the unique requirements and objectives of assurance engagements. In addition to providing objective and fair analyses of financial statements and positions, we realize it is vital to provide assistance to management and shareholders in achieving their business objectives.
For more information about our Audit and Assurance services, please contact Mike Williams.