Auditing Services
When an outside third party requires an auditor’s opinion on your financial statements, we can perform the following services according to the level of assurance and comprehensiveness required.
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Agreed Upon Procedures
Agreed-upon procedures are tailored engagements where specific tasks are performed as mutually decided upon by the involved parties. Ideal for instances where you or a third party require reassurance on aspects like inventory or cash, these procedures offer focused insight without the extensive time and cost of a full review and audit. They can address a wide range of subjects, from collateral quality to due diligence in business acquisitions. It's important to note that these procedures are the responsibility of the specifying parties and do not constitute an opinion on the overall subject matter or financial statements.
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Compilations
Compilations, offering a narrower scope and lower cost than reviews and audits, provide the most basic level of financial statement services. It is a good, cost-effective alternative to satisfy external entities and internal needs. We assist in presenting accurate financial data, requiring industry understanding and client-specific knowledge. While ensuring statements are error-free, compilations do not extend to expressing opinions, differentiating them in scope and expense.
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Reviews
Reviews serve as a balanced medium between cost and assurance, ideal for third parties seeking confidence that financial statements are free of material misstatements. Offering more assurance than compilations but less than audits, reviews forego expressing opinions or testing controls. They involve detailed inquiries with company personnel and analytical procedures, providing a reliable yet cost-effective assessment of financial health.
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Audits
Audits are the most thorough attest services, encompassing extensive procedures like inquiries, analytical procedures, physical inspection, observation, and independent confirmation, all underpinned by a deep understanding of the entity and its internal controls. While audits primarily focus on financial accuracy and don't guarantee the identification of internal control deficiencies, the in-depth process often yields insights into internal controls, operational inefficiencies, cash flow issues, and industry trends. Consequently, the comprehensive nature of an audit can enable us to offer you valuable business advice, leveraging insights gained during the engagement.
Areas of Service: Ballwin, St. Louis, Manchester, Chesterfield, Ellisville, Wildwood, St. Charles, St. Peters, O’Fallon, Des Peres, Creve Coeur, West County