Financial Statement Engagement Services in Athens, GA
What is an Audit?The highest assurance level our firm provides are audits. These objective, methodical examinations involve verification to enable us to express that your financial statements are wholly free from material misstatement. Additionally, an audit provides outside parties, such as lenders or investors, with the confidence that your financial information is fairly presented in accordance with generally accepted accounting principles (GAAP). Audits are often a requirement either to obtain high-value loans from banks or to purchase or sell a business.
- Confirmation of financial information through communication with outside parties, such as customers, banks, vendors, and attorneys. - Examination of selected transactions. - Observation and inspection of your inventory and physical asset reconciliation methods. - Evaluation of your company’s internal control system.
An added benefit of gathering this evidence is an assessment of fraud risk, enabling us to identify and make recommendations to improve procedures and internal controls, strengthening your organization as a whole. What is a Review?
If you are not required to have an audit performed but want additional security, reviews may be a cost-effective alternative. Dave Barnett, CPA can still provide limited assurance about the credibility of your statements through a review. Reviewed statements can be a strategic resource for understanding your company’s financial position and a clearer depiction of your business for outside parties.
In order to obtain a reasonable basis for assurance, we will design and perform analytical procedures and make inquiries of key members of your management team to conduct the review. Afterwards, our firm can provide a report to express limited assurance that we are not aware of any necessary material modifications to make your financial statements conform to GAAP.
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