Financial Statement Audits
Robins, Eskew, Smith & Jordan’s financial statement assurance services help companies meet their reporting needs and obligations. Our professionals conduct compilations, reviews and audits that assist in providing clients varying levels of assurance that their financials are materially correct and that financial reporting requirements are met.
RESJ’s Financial Statement Assurance Services include:
- Compilations – A compilation, while it does not provide any assurance, is often helpful for young companies that want to ensure their financial statements are accurate. A compilation can provide a measure of performance over a period of time and a financial position as of a period-end. In a compilation engagement, RESJ CPAs assist your company with producing financial statements in conformity with Generally Accepted Accounting Principles (GAAP). Unlike an audit, no procedures are conducted to provide assurance that the financials are materially correct.
- Reviews – A review is the next step on the assurance scale and provides some assurance, though not as much as an audit. As such, reviews require fewer tasks than audits and thus cost less. A review does not require a CPA to obtain an understanding of internal controls, to assess fraud risk or to test transactions for completeness and accuracy.
- Audits – An audit provides the highest level of assurance about a business’ financial statements and is the most thorough type of assurance service. When conducting an audit, our CPAs will perform procedures to obtain a reasonable level of assurance that there are no material misstatements within the company’s financial records. Both growing and mature businesses may need full financial statement audits, and these are often required by creditors as part of lending agreements.
RESJ provides compilations, reviews and audits of financial statements for a range of privately held businesses and nonprofit entities. Working with our experienced assurance services professionals will help you avoid reporting weaknesses that could impact the financial health of your business.