The CPAs at AuldridgeGriffin, and their approach to Audit, Review & Compilation Services requires obtaining a comprehensive knowledge and understanding of our clients' business and operations. This enables us to provide more effective and objective client services.
- What is an Audit?
An "Audit" is the highest level of financial statement service provided. The purpose is to provide financial statement users with a judgement as to whether the financial statements are prepared in accordance with the proper financial reporting framework. An audit is the work of a CPA and increases the degree of confidence for projected users, like lenders or investors, can place in the accuracy of the financial statements.
- What is a Review?
A "Review" is performed by CPAs and Accounting Staff to provide limited assurance that there are no material modifications that should be made to the financial statements in order to be in conformity with the financial reporting structure. A review is substantially less in scope than an audit while providing a basic level of assurance desired from projected users.
- What is a Compilation
The objective of "Compilation" Services is to present financial information in the form of financial statements. A Compilation is intended for use by outside parties who appreciate the business's association with a CPA, without requiring any level of assurance.
A Compilation involves (1) gaining a general understanding of your business, accounting principles used and your financial reporting system, along with (2) financial information in the accepted format of proper financial statements, and (3) the report attached to the financial statement emphasizing that the service is a compilation and that the accountant may not be independent in their findings.
At AuldridgeGriffin we are well known to provide objective, comprehensive and high quality Audit, Review & Compilation Services. Our year-round, hands-on approach aims to anticipate issues, along with cost-effective, practical solutions in resolving them. It's important that we include identification and evaluation of critical strategic and business risks in order to focus our work in the appropriate areas of a client's business and financial organization.
If you are in need of Audit, Review & Compilation Services, you can trust the experience of AuldridgeGriffin to give you more than just a report on your financial statements.
For more information CONTACT US at 817-558-4000.