Audits, Reviews and Compilations
Potter & LaMarca offer financial statement assurance services at all three levels – audits, reviews, and compilations. Our experts have the experience and knowledge to provide high-quality assurance services at all three levels.
Lenders, investors and other interested parties rely on your financial statements to make business decisions. Putting your financial statements through an audit and provides them with the highest level of assurance. We have a team of experts who specialize in accounting and auditing so you can be sure that your financial statements are in accordance with professional standards if they have been through one of our audits.
We’ll work with you to ensure you have the necessary controls and procedures in place to accurately report financial data.
To ensure our commitment to the highest standards of quality and professionalism, our firm’s accounting and auditing department regularly undergo a peer review. Our reputation as a firm of high standards and quality services is a great asset to helping your company meet its financial goals.
Our thorough process will help expose deficiencies, weaknesses or gaps in your organization’s internal controls. This will lead to increased efficiency and better decision making going forward.
A review, while less in scope than an audit, provides the users of your financial statements with some assurance that no material modifications need to be made to your financial statements as presented. Our review procedures include inquiries of management and developing predictive tests to achieve this goal.
We also review your financial statements for the proper presentation and disclosure required under generally accepted accounting principles.
Compilations are the most basic level of service provided by the CPA. At this level, the CPA assists in presenting information in financial statements without seeking or finding any assurances.
The fundamental differences between these three services are the degree with which the CPA seeks assurance and the level of due diligence they go through.
Talk to a CPA today to find out what level of assurance your business needs.