Audit & Review Services
Two of the best known services CPAs provide are audits and reviews. In
performing these services, we strive to become intimately familiar with our
client's organization. At Harvey & Parmelee LLP we feel that by obtaining an
understanding of our client's business environment and operations, we can offer
you audit and review services which set us apart. With this knowledge, we can
evaluate your company's strengths and weaknesses, enabling us to offer suggestions
and recommendations to make your business more profitable and efficient.
Audit
In an audit, we express an opinion as to whether the financial statements are
fairly presented in conformity with generally accepted accounting principles.
Although an audit does not guarantee that the financial statements are free of
material errors, it does offer the highest degree of assurance that can be
attached to a set of financial statements. Consequently, an audit requires
that we study the company's internal controls and test underlying financial
transactions. Some of the steps we may perform to meet these requirements
include confirmation with outside parties, examination of supporting documents,
observation, and inspection. Although an audit of a nonpublic business
(closely held business) is often requested by a lender, owners and managers
often consider having one when they desire a detailed examination of the
company's financial reporting process.
Review
In a review, we do not express an opinion. Instead, we offer limited assurance
that the financial statements are in conformity with generally accepted
accounting principles. In a review we obtain a working understanding of your
industry and business. Consequently, in a review we will make inquiries into
such matters as accounting methods, recordkeeping practices, etc. When asked
to perform a review, we also apply analytical procedures which are designed to
identify unusual items or trends that may need explanation.
If you would like more information about Harvey & Parmelee's Audit & Review Services,
please contact Rich Scrivanich at (562) 698-9891 or via e-mail at
rich.s@acpa4u.com.
Return to Service Listing
|
