Assurance & Attestation

Audit provides the highest level of credibility to the financial statements. The purpose of the Audit is to provide the financial statement users with an opinion on whether the financial statements are presented fairly, in all material respect, in accordance with the applicable financial reporting framework. In an Audit we assess risk and plan a response, preform procedures, and obtain evidence, form conclusions and report. We also obtain an understanding of your entity’s internal controls and assess fraud risk.

A Review provides a lower level of credibility as compared to an Audit. A review engagement provides a limited assurance that the reviewer is not aware of any material modifications that should be made to your financial statements for them to be in conformity with the applicable reporting framework. We perform inquiry and analytical procedures

A compilation does not provide any assurance. We apply accounting and financial reporting expertise to assist management in presenting financial statements according to the applicable reporting framework. In a compilation, we don’t perform inquiries, analytical procedures, or other procedures ordinarily performed in a review; nor do we obtain an understanding of internal control, assess fraud risk, test records, or any of those procedures performed in an audit

Preparation engagement is a non-attest service; hence no report is issued. We prepare the financial statements in accordance with applicable reporting framework. This service is no different from what an in-house controller or CFO would provide to management in a larger company

Agreed upon procedures: It is an attest service where we are engaged by the clients to issue a report of findings based on specific agreed-upon procedures. We perform these procedures on subject matter for a wide variety of assertions based on the needs of specific parties. For example, Banks, while evaluating a loan for a client who is buying a business, may ask to perform agreed upon procedures on non-recurring add backs to the financial statements of that business

Prospective financial statements: In contrast to historical financial statements these are forward looking and based on projections rather than past events. It is an attest service where we are engaged by the clients to compile and examine these statements