• REVIEWS & COMPILATIONS
  • INTERNAL CONTROLS

PROVEN EXPERTISE IN COMPILATIONS AND REVIEWS

Reviews and Compilations Sarasota

As a business owner, you may be accountable to creditors, private investors, and shareholders, all of whom are interested in ensuring that the company’s financial statements accurately represent the true financial position of the company.

We offer two types of services which can be a good middle ground, providing the advantages of a CPA's technical expertise without incurring the expense of an audit.

Compilations

The first level of service is the compilation. In compiling a financial statement for a client, we present information that is the "representation of management" and expresses no opinion or assurance on the statements. Compilations don't require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.

Reviews

A financial statement review is a service under which we obtain limited assurance that there are no material modifications that need to be made to an entity's financial statements for them to be in conformity with the applicable financial reporting framework (such as GAAP or IFRS).

Less extensive than an audit. but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make to of your company's management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.

A review doesn't require us to study and evaluate your company's internal controls or verify data with third parties or physically inspect assets. rather, a review report expresses limited assurance in the form of the statement: "We are not aware of any material modifications" for the financial statement to be in conformity with the Generally Accepted Accounting Principles (GAAP). Reviewed financial statements must include required footnotes and other disclosures.

WE LOOK FORWARD TO HELPING YOUR BUSINESS ACHIEVE FINANCIAL SUCCESS!

Whether your business or organization needs a compilation or review, our experienced team of CPAs, accountants, and tax professionals is here to help.

Please Contact Us For A Free Initial Consultation

MITIGATING RISK AND PROTECTING YOUR BUSINESS FROM FRAUD

Reviews and Compilations Sarasota

Every business faces risk, but with an effective system of internal control measures in place, that risk is mitigated. This is not a task that is easily accomplished in-house, however, because as a business owner, your focus is running your business, managing employees, and turning a profit.

EFFECTIVE INTERNAL CONTROL SYSTEMS THAT MEET YOUR BUSINESS NEEDS.

As trained professionals, we have assisted many business owners in creating effective internal control systems to prevent employee fraud, ensure compliance with regulations, and make sure company policies and procedures are in place so that your business operations are effective and efficient. We work with your business to identify and document weaknesses with existing internal controls, then perform procedures to test whether the current internal controls you have in place are effective. Finally, we offer recommendations in a report of findings that can be used to strengthen your internal control systems, and that reflect the needs of a particular business.

What we do for you:

  • Recommend segregation of duties for implementation by dividing responsibilities so that no single person has control over all aspects of financial transactions.
  • Make sure transactions are authorized through delegating approval authority to an individual only when the transactions are consistent with policy and funds are available.
  • Ensure records are routinely reviewed and reconciled by someone other than the preparer or transactor.
  • Ensure that equipment, inventories, cash, and other property are accounted for.
  • Physically secure, periodically count, and compared with item descriptions shown on control records.
  • Provide employees with appropriate training and guidance to carry out their job duties.
  • Set up proper channels for reporting suspected improprieties.
  • Document policies and procedures and make them accessible to employees.
  • Review operations to determine whether the results are consistent with established objectives and goals and carried out as planned.

DON’T LET EMPLOYEE FRAUD BE THE DOWNFALL OF YOUR BUSINESS.

If you suspect employee fraud or are concerned about your business risk, then maybe it’s time to review and update your internal control systems.

Please Contact Us For A Free Initial Consultation

And find out how we can help your business mitigate risk.

FREE INITIAL CONSULTATION

Our initial consultation
is always FREE.

Provide us with your contact information, and one of our team members will reach out to understand your current situation.

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